"We put more money behind agency or agency fees because we have less development and even marketing research."
In 2020, Kraft Heinz will focus on developing nine "transformational projects".
The onslaught of technology and automation, performance-driven digital advertising and data-led marketing decision making are raising considerable questions about how to ensure creativity continues to flourish in the marketing function.
Facility consolidation and new brand product launches have seen Bega post a 13 per cent increase in revenue in the 2019 financial year, in what has been a challenging operating environment for the dairy giant.
"Do more innovation on big brands instead of launching too many new brands. Having innovation is more incremental and not dilutive."
The company has since taken employee personnel remedial actions and made improvements to its internal controls to mitigate such cases in future.