Irene  Rosenfeld, Bloomberg Oct 2009
Irene Rosenfeld, chief executive officer of Kraft Foods, addresses the World Business Forum at Radio City Music Hall in New York, U.S., on Wednesday, Oct. 7, 2009. Photo by Bloomberg
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Irene Rosenfeld, CEO and Chairman of Kraft Foods Inc., was named by Forbes magazine the second most powerful woman in the world for 2010, one place after First Lady of the United States Micelle Obama and one place ahead of media mogul Oprah Winfrey.

Rosenfeld, 57, was born to a Jewish family in Brooklyn, New York, and spent her later childhood in Long Island. Her father's parents immigrated to the United States from Romania, while her mother's parents were German Jews.

Rosenfeld, who now lives in Illinois, has been in the food industry for over 25-years, and has served as the CEO and Chairman of the Kraft Foods since 2006. The company markets popular products such as Philadelphia Cream Cheese, Kraft Singles, Oreos and Mac & Cheese.

In 2009, Rosenfeld became the woman with the second most highest salary in the U.S., after striking a deal with U.K. candy company Cadbury, earning a compensation check of over $26.3 million.

Also on Forbes' list were pop mega stars Lady Gaga and Beyonce Knowles, who collaborated earlier this year in the music video "Telephone," as well as talk show host Ellen DeGeneres.

Last year's No. 1 on the list, German Chancellor Angela Merkel, was placed 4th on this year's list, one place before U.S. Secretary of State Hillary Rodham Clinton. House of Representatives Speaker Nancy Pelosi was placed 11th on the list, while Sarah Palin, former governor of Alaska was ranked 16th.

Other businesswomen on the list included PepsiCo Inc. Chairman and Chief Executive Indra K. Nooyi, a company in which Rosenfeld previously worked, Mary Schapiro, chairman of the Securities and Exchange Commission, and Gail Kelly, CEO of Westpac.

Arianna Huffington, Founder and editor-in-chief of the Huffington Post was ranked 28th on the Forbes list.