Kraft Foods Groups Inc. announced on Thursday that it will be saying goodbye to Teri List-Stoll, its Chief Financial officer, Deanie Elsner, Chief Marketing Officer and Chuck Davis, executive vice president of research and development, and quality and innovation; the first of many significant modifications the company will undergo under the leadership of John Cahil.

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"It's clear that our world has changed and our consumers have changed, but our company has not changed enough," said the new CEO in his first earnings conference call.  He did not divulge more detail about said changes but the CEO said the Oscar Mayer meats manufacturer would devote more time on product development based on consumer insight and spend on more efficient advertising.

Board chairman John Cahill replaced Tony Vernon as CEO in December. List-Stoll would then step down as CFO effective end of February. She will remain a senior advisor for a smoother transition as the finance division reports to Cahil. Meanwhile, Jane Hilk, president of the enhancers and snack nuts division, would play interim chief marketing officer.

The company will also soon introduce Chris Kempczinski as the new "vice president of growth initiatives" and president of international operations. His expanded role will focus on innovation and strategy such as possible mergers and acquisitions.  He currently heads Kraft's unit in Canada, to be replaced by Geroge Zoghibi, vice chairman operations, R&D, sales and strategy.

Brian Yarbrough, an Edward Jones analyst, says of the matter, "Three people after this guy [Cahil] has been on the job 50 plus days seems like an awful quick, swift move. But I think his whole point is they're not innovating fast enough, and they're not coming out with the right type of marketing." Other analysts likewise say that investors are keenly waiting on the newly appointed CEO's next moves to revive the company with potential acquisitions and divestitures.

Krafts has been struggling with a slowdown in demand for its older, pioneer brands in the United States, as consumers favor "fresh" foods with better quality ingredients. The company posted a net loss of $398 million for the fourth quarter of 2014 versus a net profit of $931 million in the same period last year. On the other hand, revenue climbed only 2.2 percent to $4.69 billion.

"We have wonderful brands but they are not all created equal," says Cahill "At the end of the day our brands are phenomenal brands as they are, and so, our first and foremost focus will be on making them work." His only comment on cutting costs is that the company would do it without risking its top line.

Kraft shares tumbled 1.9 percent to $64.90 in extended trading on Thursday.

TagsKrafts, Krafts Foods, 4th Quarter Earnings, John Cahlil