Kraft has announced that Mark Reckitt, Cadbury’s Chief Strategy Officer has quit, while other upcoming resignations are rumored.

Mark Reckitt is the most senior executive left at Cadbury within Kraft. Reckitt has, alongside Kraft’s Tim Cofer, been leading the integration of Kraft and Cadbury, and was the only Cadbury member to report directly to Irene Rosenfeld, Kraft’s CEO.

Read more here: Cadbury executives begin to jump ship

NORTHFIELD, Ill. – Cadbury PLC shareholders have voted to approve Kraft Foods Inc.’s roughly $19.5 billion offer to acquire the British candy maker.

The majority vote marks the final step in Kraft’s months-long battle to acquire the company. The deal creates of the world’s largest confectionary company and greatly expands Kraft’s global reach.

Kraft (NYSE:KFT) said Tuesday that nearly 72 per cent of Cadbury shareholders approved the deal.

Cadbury stockholders 500 pence cash and 0.1874 new Kraft shares for each of its Cadbury shares under the terms.

The deal does not require a vote by Kraft’s shareholders. It is expected to close this month.

Kraft CEO Irene Rosenfeld is expected to meet with Britain’s Business Secretary Peter Mandelson on Tuesday to discuss the company’s “commitment to the company and its employees,” a spokeswoman from the minister’s office said.

Hundreds of Cadbury workers uncertain about their future protested the takeover in London’s Westminster area, calling for guarantees for their jobs and conditions once the company comes under new ownership.

Some protesters chanted “Keep Our Jobs,” while others held up banners which read “Don’t Sell Us Out.”

“Our fear is that the Kraft takeover is not in the national interest, and in the months of this hostile takeover process we have heard nothing from Kraft to calm fears that it is in the interest of the Cadbury work force either,” said Jack Dromey, Unite’s deputy general secretary.

LONDON (Reuters) – Kraft Foods agreed a recommended deal to buy Cadbury for around 11.9 billion pounds ($19.6 billion), creating the world’s top confectioner after frantic last-minute talks broke an impasse over price.

Kraft’s CEO Irene Rosenfeld had to inject more cash into her bid and drop the number of new Kraft shares in the offer to win over Cadbury Chairman Roger Carr and mollify her top shareholder, billionaire investor Warren Buffett.

Kraft’s cash-and-share deal values each Cadbury share at 840 pence, with shareholders also set to get a 10p special dividend, bringing it to a total of 850p, which prompted a unanimous recommendation from the Cadbury board in favor of the deal.

Cadbury shares hit a record high of 838 pence in early trade and were up 3.7 percent 837-1/2p by 1003 GMT (5:03 a.m. EST).

“Kraft has got a very good deal here. 850p is predicated on the current Kraft share price, and I would expect Kraft’s shares to rise today on the back on substantially less Kraft shares being issued as part of the deal,” said Panmure Gordon analyst Graham Jones.

Kraft said the deal would be accretive to earnings in 2011 by around 5 cents on a cash basis and give a mid-teens percentage return on investment, well in excess of Kraft’s cost of capital.

The new bid consists of 500p of cash and 0.1874 new Kraft shares, compared to Kraft’s original offer of 300p cash and 0.2589 new Kraft shares, which valued the shares in September when the deal was first proposed at 745p.

Buffett, who owns a near-10 percent stake in Kraft had warned Rosenfeld not to overpay and issue too many new Kraft shares.

Kraft said on Tuesday it was issuing 265 million new Kraft shares compared with its original plan to issue 370 million.

SWEET DEAL

The deal would create the world’s largest confectionery group ahead of privately owned Mars-Wrigley and bring under one roof Cadbury’s Dairy Milk chocolate and Trident gum and Kraft’s Milka, Toblerone and Terry’s chocolate brands.

Cadbury investor Standard Life Investments said it supported the board’s decision to recommend the Kraft offer.

“We are supportive of the management’s decision although the achieved price is slightly light of the stated target,” said David Cumming, head of UK equities at Standard Life.

Cadbury unions have opposed the move fearing big job cuts and UK politicians have also weighed in, with general elections looming.

UK Prime Minister Gordon Brown told a news conference after the deal was announced that he wanted to protect investment and jobs in Cadbury.

“The one thing I want to say is this: we are determined that the levels of investment that take place in Cadbury’s in the United Kingdom are maintained,” he said.