Mondelēz International is the name Kraft has proposed for the snacks arm following its split into a global snacks division and North American grocery business.
The North American grocery company will retain the Kraft name.
Mondelez origins
"Mondelez" (pronounced mohn-dah-LEEZ') is a newly coined word from Kraft.
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 was inspired by separate suggestions from two Kraft employees, in Europe and North America after Kraft had considered over 1,700 suggestions from employees.
Kraft Chairman and CEO Irene Rosenfeld said: "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. “
“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."
Analyst reaction
The new name received a lukewarm response from global food analyst at Mintel Marcia Mogelonsky.
"I assume they've test marketed it in Asian countries to see how it looks and sounds there. It looks hard to pronounce here in the US and it will take awhile to settle in," she said.
However, she added that other companies had invented names such as Activia and Yoplait and been largely successful.
"I think it is also another reminder to Cadbury that Kraft is in charge," continued Mogelonsky.
"After the horrible brouhaha that followed on the heels of the takeover, Kraft is making it clear that the venerable Cadbury name will remain, but in a lower or subservient position in the new company's brand hierarchy," she said.
North American Grocery keeps Kraft name
The company also announced that the North American Grocery Company was to retain the Kraft Foods name.
Rosenfeld said: "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.”
The changes are expected to take effect upon separation before the end of 2012, following approval at Kraft’s Annual Meeting on 23 May.