Competencies and Independence

Our Board’s Competencies and Why They Matter

The Governance Committee works with the Board to determine the appropriate mix of individuals that will result in a Board that is strong in its collective knowledge, competencies and experiences – enabling the Board to fulfill its responsibilities and best perpetuate the Company’s long-term success and represent all shareholders’ interests. Based upon its discussions with the Board, the Governance Committee has identified key competencies that are currently desirable in order for the Board to fulfill its current and future obligations:

Key Competencies	Relevant Experience
Industry Knowledge vital to understanding and reviewing strategy, including the acquisition of businesses that offer complementary products or services	Food and Beverage Consumer Products
Significant Operating Experience as current or former executives of large global companies or other large organizations giving directors specific insight into and expertise that will foster active participation in the development and implementation of the Company’s operating plan and business strategy	CEO/COO Manufacturing Operations Retail Operations
Leadership Experience giving directors the ability to motivate, manage, identify and develop leadership qualities in others, as well as strong critical thinking, verbal communication skills, diversity of views and thought processes	CEO/COO or Other Leadership Positions at Complex Organizations M&A/Alliances/Partnerships Strategic Planning Talent Assessment and People Development/Compensation
Substantial Global Business and other International Experience given the Company’s global presence	Developed Markets Emerging Markets New Media/Digital Technology/E-Commerce Technology/IT Strategy Government Affairs/Regulatory/Compliance
Accounting and Financial Expertise enabling directors to analyze financial statements, capital structure and complex financial transactions and oversee accounting and financial reporting processes	CFO M&A/Alliances/Partnerships Financial Acumen/Capital Markets Cost Management
Product Research, Development and Marketing Experience in food and beverage as well as complementary industries contributing to the identification and development of new food and beverage products and implementation of marketing strategies that will improve performance	Consumer Insights/Analytics Research & Development Innovation
Public Company Board and Corporate Governance Experience at large publicly traded companies providing directors with a solid understanding of their extensive and complex oversight responsibilities and furthering the goals of greater transparency, accountability for management and the Board and protection of shareholders’ interests	CEO/COO/Other Governance Leadership Positions Government Affairs/Regulatory

12 of our 13 Directors are Independent

Global

Asia, Middle East and Africa

Europe

Latin America

North America

Other Sites

Competencies and Independence

Our Board’s Competencies and Why They Matter

12 of our 13 Directors are Independent