Peter Henry nominated to join Kraft's board

NORTHFIELD, Ill. — Kraft Foods said its board of directors has nominated Peter Henry as its newest member.

Henry, an international economist, is dean of New York University's Stern School of Business.

"Peter is an outstanding candidate for our board," said Kraft chairman and CEO Irene Rosenfeld. "He's an impressive academic leader with credentials from several of the world's top universities. His expertise in emerging markets and understanding of their role in driving growth in the global economy will be a terrific asset as we expand our presence in these regions."

In related news, Kraft announced that two current board directors, Deborah Wright and Frank Zarb, will not stand for re-election.

Shareholders will elect 11 directors for one-year terms at the company's annual meeting of shareholders on May 24.