Mondelez International Inc. CEO Dirk Van de Put rolled out a new growth strategy Sept. 7 as the company reported that it expects fiscal 2019 adjusted EPS to grow between 3% and 5%.
Van de Put and other executives issued the new targets at the company's annual investor day meeting in Boston. Over the long term, Mondelez is targeting organic net revenue growth of at least 3% and "high single-digit" growth in adjusted EPS.
The company behind Oreo and Cadbury also expects its fiscal 2019 organic net revenue to increase between 2% and 3%.
"We have developed a clear strategic plan to accelerate our growth and drive attractive total returns centered around three strategic priorities: accelerate consumer-centric growth, drive operational excellence and build a winning growth culture," Van de Put said.
Mondelez plans to increase investment in e-commerce and leverage partnerships and M&A to expand into new markets.
The company reaffirmed its full-year 2018 outlook. It still expects organic net revenue growth to be at the high end of the range of 1% to 2%.
In addition, the company now expects share repurchases to be about $2 billion in 2018.
Shares of Mondelez were down 2.09% to $42.58 as of 3:15 p.m. ET.