Kraft Heinz announced Wednesday it will pause its plans to split the company, with CEO Steve Cahillane saying in a statement that the company’s issues are “fixable and within our control,” CNBC reported.
The company plans to invest $600 million in its mission to turn the company around in the U.S. The money will be spent on marketing, sales and research and development.
Kraft Heinz had announced plans to split the company in September. It had merged 10 years earlier in a deal worth $46 billion.
Cahillane took over as CEO in December.
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After the announcement, shares of Kraft Heinz fell 5%.
