General Mills Chairman Ken Powell To Retire
Consumer foods manufacturer General Mills has announced that Ken Powell is retiring as chairman of the board, effective at the end of the year.
The company's board of directors has elected chief executive officer Jeff Harmening to serve as the new General Mills chairman upon Powell's retirement, as well as continuing in his role as CEO.
“Today’s announcement concludes a long and thoughtful process of leadership transition by the board of directors,” said Kerry Clark, independent lead director of the General Mills board.
“We are very supportive of Jeff’s leadership efforts on behalf of the company since his appointment as CEO.”
Harmening became CEO of the food company in June of this year, after Powell stepped down from the role.
Powell joined General Mills in 1979 and progressed through at number of positions at the company, before becoming CEO and chairman in 2006.
He said that Harmening will now "lead the company through significant changes with a steady and thoughtful hand".
The company, which produces brands such as Yoplait, Cheerios and Häagen-Dazs, reported that net sales declined by 4% to $6.8 billion in the first quarter of its financial year.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.