After spinning off its global snacks business, Kraft Foods is seeking to regain its innovation mojo. The company is focusing on creating a can-do culture that produces fewer products and puts more resources into "big bets", such as Cool Whip frosting and a Kool-Aid version of MiO due out this year. "We understand our obligation to innovate and contemporize. This is not your father's Kraft," CEO Tony Vernon said.

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