Kraft Foods is planning to divide into two sectors, where new brand, Mondelēz International, Inc., will launch the snack business globally.

While retaining its iconic corporate identity, Kraft Foods, in North America, the new name, Mondelēz International, Inc., will be launched before the end of 2012 to capture the global nature of the business.

The name itself "Mondelez" evokes the idea of a delicious world, and aims to become a high-growth global snacks business.

It was decided upon by company employees worldwide, which saw over 1,000 employees submit more than 1,700 names. The resulting outcome was inspired by separate suggestions from two employees, one in Europe and another in North America.

Chairman and CEO of Kraft Foods, Irene Rosenfeld says: "The Kraft brand is a perfect fit for the North American grocery business and gives it a wonderful platform on which to build an exciting future,"

"For the new global snacks company, we wanted to find a new name that could serve as an umbrella for our iconic brands, reinforce the truly global nature of this business and build on our higher purpose – to 'make today delicious.'  Mondelez perfectly captures the idea of a 'delicious world' and will serve as a solid foundation for the strong relationships we want to create with our consumers, customers, employees and shareholders."