The case study discusses how Irene B Rosenfeld (Rosenfeld), CEO of US-based snack-food company Kraft Foods Inc. (Kraft), turned around and transformed Kraft into a global consumer food behemoth. Since taking up the position of CEO in 2006, Rosenfeld had fundamentally changed the footprint and prospects of Kraft. She repositioned the company to deliver top tier growth by revamping some iconic brands, transforming the product portfolio, and consolidating the company’s presence in developing markets. In February 2010, Rosenfeld successfully led the Cadbury acquisition to make Kraft a market leader in the global confectionery market. Under her strategic leadership, Kraft emerged as the second largest food company in the world with its products being sold in more than 160 countries. As a next step in the company’s evolution, Rosenfeld intended to split Kraft into two independent public companies, a high margin North American Grocery business and a high growth Global Snacks business. She contended that the split would help Kraft in consolidating its position in the fast growing snacks category and also offer the company’s shareholders two different investment opportunities. Analysts’ reactions to this decision were mixed.