OUT: Irene Rosenfeld will step down as CEO of Mondelez International in March, Fortune’s Beth Kowitt reports. Dirk Van de Put, currently the president and CEO of Mondelez-owned McCain Foods will take over.
Rosenfeld has a legacy of bold, transformative M&A moves: The $20 billion deal for Cadbury in 2010, the splitting of Kraft to create Mondelez, and last summer’s failed bid for Hershey. She tells Kowitt:
“I had the courage to make some bold moves that weren’t the easy route but were the right route,” she told Fortune. Rosenfeld said she considered herself a “chess player, not a checkers player” and has therefore always looked two to three moves ahead. “That’s always served us exceptionally well,” she added.
Her successor faces the daunting goals of making e-commerce a $1 billion business by 2020 and getting half of the company’s revenue from healthy products. But Rosenfeld downplayed any major dealmaking moves, emphasizing smaller add-on deals and geographic expansion:
“There’s a tendency every time you see M&A activity to just assume that’s the beginning of a trend. I feel quite satisfied with our portfolio today. I think we have large runway of opportunity to address consumer white space in health and well-being with the current portfolio, and also the opportunity to expand geographically. The opportunity to put each of our strong snacking categories and iconic brands into geographies where we don’t have a presence today is a big growth engine for us. Our focus is really going to be organic growth supplemented by tack-on acquisitions.” Read more.
500: Beyond a blog post, Christine Tsai, co-founder of 500 Startups, has not spoken publicly about the sexual harassment and assault allegations against former 500 Startups CEO Dave McClure. On Tuesday, she addressed the issue at the 500 Startups accelerator demo day in Mountain View. Term Sheet wasn’t there but VentureBeat and Recode were:
Tsai started off by acknowledging that many brave women have risked their careers to come forward, adding that “500 wants to be a part of the solution in ending sexual harassment.” She went on to thank entrepreneurs and VCs for their support and underlined that 500 Startup’s mission is much bigger than one person. She did name her cofounder, Dave McClure, referring to his recent resignation, but was very careful in her choice of words. Read more.
“For many of you this was a confusing, emotional time where you probably questioned the 500 that you knew,” Tsai said, reading from prepared remarks. “This mission is much bigger than just one person. And it’s way too important to be taken down by one person’s mistakes. Tsai, who took over to lead the firm after McClure stepped down, promised that 500 Startups would “aim to be part of the solution” in the coming months. Read more.
COMING ATTRACTIONS: I’m not eager to give Nin Desai of Nin Ventures more attention after she apparently lied about her advisors and then attacked reporters (including me) on Twitter for reporting on it. Despite her refusal to discuss the situation, or even name any portfolio companies, her firm keeps soliciting me via email to invest in her fund.
Here’s the pitchdeck. The team members she names are completely different from the ones listed on her website. As we noted in May and as Dan Primack reported more extensively recently, most of them no longer work at the firm or have never worked there.
Anyway, today Desai is hosting a conference call for prospective investors at 1 p.m. CST. Given the fact that she continues to raise money but won’t respond to any questions about her firm or fund, we may have to dial in…
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Beyonce may buy a stake in the Houston Rockets. Facebook working on a video chat device. Stripe teams up with Amazon. The sale of Scaramucci’s SkyBridge Capital goes on. An advice column from Jeff Bezos.
• Impossible Foods, a Redwood City, Calif.-based maker of plant-based meat and dairy products, raised $75 million in funding. Temasek led the round, and was joined by Open Philanthropy Project, Bill Gates, Khosla Ventures and Horizon Ventures.
• ETC Global Group, a Los Angeles and Toronto-based brokerage and clearing group, raised up to $68 million in funding. Investors include Cerberus Capital Management LP and Quantlab Investments LLC.
• Juvo, a San Francisco-based provider of mobile identity scoring, raised $40 million in Series B funding. New Enterprise Associates and Wing Venture Capital led the round, and were joined by investors including SignalFire.
• Personal Capital, a Redwood City, Calif.-based digital wealth manager, raised $40 million in funding. IGM Financial led the round.
• Gimlet Media, a Brooklyn, N.Y.-based podcasting startup, raised $15 million in funding, according to The Hollywood Reporter. Investors include Stripes Group and Laurene Powell Jobs’ Emerson Collective. Read more.
• VIOME, a Cupertino, Calif.-based AI powered wellness service, raised $15 million in Series A funding. Khosla Ventures led the round, and was joined by investors including Bold Capital Partners.
• GuardiCore, an Israel-based developer of internal data center security and breach detection solutions, raised an additional $15 million in a Series B funding extension. This brings the company’s total funding to $48 million. TPG Growth and Greenfield Partners led the additional investment.
• ProoV, an Israel-based PoC platform that enables businesses to test new technologies, raised $14 million in Series B funding. Helios…