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Dip Creations hit store shelves

BY Allison Cerra

PLANO, Texas — Consumers looking for a quick way to create great-tasting meals and snacks now have new options.

New Tostitos and Lay’s Dip Creations dry seasoning mixes are available in freshly made guacamole, from Tostitos, and garden onion and country ranch from Lay’s. They can be used as dips or to add a twist to an array of meals and snacks, including hot wings, potato wedges, meatballs, enchiladas, salads and more.

New Dip Creations dry seasoning mixes are available for a suggested retail price of $1.59 each.

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Pepsi develops PET bottle

BY Allison Cerra

PURCHASE, N.Y. — PepsiCo said it significantly is reducing its carbon footprint through its development of a plant-based bottle.

The company said its "green" PET bottle, made of such bio-based raw materials as switch grass, pine bark and corn husks, is 100% recyclable.

The announcement followed the company’s rollout of "quieter" compostable bags for its SunChips brand.

PepsiCo will pilot production of the new bottle in 2012.

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Kraft’s CFO exits; EVP operations to take helm

BY Allison Cerra

NORTHFIELD, Ill. — Kraft Foods on Monday announced that its EVP and CFO, Timothy McLevish, will leave the company in mid-2011.

McLevish, who served as EVP and CFO for Kraft since 2007, will shift his CFO responsibilities to EVP operations David Brearton. Prior to his exit, McLevish will report the company’s first-quarter financial results.

McLevish was called "instrumental" in several transactions that helped boost Kraft’s portfolio, including the split-off of Post cereals, the sale of the company’s North American frozen pizza business and the acquisition of Cadbury.

"Tim has had a clear mandate to reshape the portfolio and our capital structure, which he accomplished with the highest-quality results," Kraft chairman and CEO Irene Rosenfeld said. "We will miss Tim’s perspective and commitment, but we respect his desire to take on new and different challenges."

Meanwhile, Kraft said it has initiated an external search to fill Brearton’s current role as EVP operations. Brearton joined the company in 1984 and has been a member of the Kraft executive team for the past six years.

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