Kraft Heinz CEO says stock will revive ‘if we can deliver’

Despite backing from Warren Buffett’s Berkshire Hathaway, Kraft Heinz has fallen nearly 38% in the past year. But CEO Bernardo Hees is taking the long view regarding the future of the ketchup maker.

“We are here to build a business for the long run,” Hees told FOX Business’ Liz Claman during an interview Friday in Omaha, Nebraska, a day before the annual Berkshire shareholders meeting. “We truly believe if we can deliver on our commitments, the stock market is going to take care of itself.”

While Berkshire remains the biggest shareholder of Kraft Heinz, Buffett recently stepped down from the board after a five-year commitment.

Now, Hees said, the company is looking for the best strategy to navigate the ever-changing food industry, including such trends as gluten-free and organic products.

For instance, the company just announced plans to launch a new “Mayochup” (name pending), a combination of mayonnaise and ketchup.

“It is all about understanding consumers, understanding the trends and having the right portfolio offering,” he said. “We’ve been growing 5% a year just by adding new categories, adding new offerings like organic and flavors.”