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Tuesday, September 12, 2006

Kraft Prepares To Leave Altria (MO)(KFT)

There was a good deal of speculation that the Kraft spin-out from Altria would be approved at a board meeting of the tobacco and food giant a week ago. Nothing happened.

But, reading the tea leaves, the futher separation of the two companies may be very close. Altria owns 85% of Kraft now.

Kraft's new CEO, Irene Rosenfeld, replaced the bulk of here senior management team with new people today. Many of the old divisional heads left the building.

Rosenfeld appears to be getting ready for the company to stand on its own. More operating responsibility is being passed to line managers. The company is shaping up for the future as an independent entity.

It won't be long now.

Douglas A. McIntyre can be reached at He does not own securities in companies he writes about.

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