General Mills has announced that current chairman Ken Powell will be retiring as the company hands over its functions to the current CEO, Jeffrey Harmening as part of a management shuffle.
Harmening, who has been CEO since June, will become chairman on January 1, 2018 and continue to serve as the company’s chief executive officer as General Mills aims to globalise functions by moving to one global leadership team with four business segments reporting directly to the CEO.
“I would like to thank Ken for his support through this transition period and for the leadership legacy that he has left for us,” Harmening said. “We all wish him the very best on his retirement.”
Outgoing chairman, Powell added: “Jeff is leading the company through significant changes with a steady and thoughtful hand, and it is exciting to see the speed in which the teams are responding.”
This news comes after General Mills announced it would put focus on top-line as revenue continues to fall.
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