It's a bright, warm February day in Boca Raton, Fla., but Irene Rosenfeld doesn't look happy. At an industry conference one week after reporting disappointing fourth-quarter results, the chairman and CEO of Mondelez International, formerly Kraft Foods, is defending her new company under a barrage of questions from irritated financial analysts. One wants to know what's really changed after the spinoff. Another barks: "You said you're getting frustrated? Well, we're getting frustrated, too." Yet another wants to know why she didn't disclose before the earnings release that the company was having execution issues in Brazil and Russia. Beneath her no-fuss cropped red haircut and chic white blazer, her mouth hardens into a thin, straight line. "I deeply regret it impacted my credibility with you, but I don't know what else could have been done," she says. "The long-term prospects are quite robust."
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