Longtime Kraft exec James Kehoe to return as CFO

NEW YORK (AP) - Gildan Activewear Inc.'s chief financial officer, James Kehoe, has resigned after about a month with the clothing company in order to take the same position at his former employer, Kraft Foods Group Inc.

Kehoe, who also served as executive vice president and chief administrative officer at Gildan, had joined the company in January.

He had an approximately 25-year career at Kraft in finance and operations and is rejoining the food company after it announced last week that Teri List-Stoll would be stepping down from the CFO post at month's end.

"While the timing of this change is not ideal, the opportunity with Kraft is something I could not pass up given my extensive history with the company and its people," Kehoe said in a statement. Kraft's products include Velveeta and Miracle Whip.

Laurence G. Sellyn, who had served as Gildan's CFO, chief administrative officer and executive vice president before Kehoe's appointment, will resume the positions while the company looks for a replacement.

At Northfield-based Kraft, Kehoe will report to Chairman and CEO John T. Cahill. He will also serve as executive vice president and be responsible for all of the company's finance operations. His most recent role at Kraft was senior vice president of corporate finance.

Gildan Activewear is based in Canada.

Kraft Foods shares edged up a penny to $64.42 in midday trading Tuesday. U.S. shares of Gildan Activewear fell 53 cents to $58.82.