The company’s Board is calling for shareholders to approve the new name "Mondelez" (pronounced mohn-dah-LEEZ') following its split into a global snacks company and North America grocery business.
The grocery business will retain the Kraft name and become “Kraft Foods Group”.
Mondelez was inspired by separate suggestions from two Kraft employees, in Europe and North America after Kraft had considered over 1,700 suggestions from employees.
The first part, “Monde", is derived from the Latin word for "world," while "delez" is said to be a shortened expression for "delicious".
The name has come under some criticism. Global food analyst at Mintel Marcia Mogelonsky previously told this site that the name was hard to pronounce in the US and could take a while to sink in.
Concerns have also been raised that the name could be confused with a similar sounding explicit sex act in Russian.