General Mills Inc. said between 400 and 600 jobs would be eliminated in a restructuring as the struggling food giant works to adapt to changing food trends and prepare for an eventual new leader.
The round of job cuts is just the latest from General Mills, which has had to close factories and outlined plans to cut about 5,000 jobs—more than a tenth of its workforce—since September 2014.
General Mills said it is bringing in “external expertise” in the areas of strategic revenue management, e-commerce and marketing. It also said it is looking for a new chief marketing officer.
The company recently announced that Chief Operating Officer Jeff Harmening, who the Wall Street Journal reported in August is being groomed for the eventual chief executive role, was taking over the COO role for the entire company. Four business groups will report directly to Mr. Harmening.
In its latest quarter, General Mills said in September that sales fell 7% as its yogurt business plunged in the U.S., as shoppers traded Yoplait for Greek-style brands.
Shares of General Mills were flat in morning trading.
By Austen Hufford
Source: Wall Street Journal
Danone has appointed three deputy CEOs to “better connect categories and regions” and drive the delivery of its ‘Renew Danone’ strategy. The new appointees are Veronique Penchienati-Bosetta, Shane Grant and Juergen Esser. They will report to Danone CEO Antoine de Saint-Affrique.
PepsiCo Portugal has announced that it will invest €7.5 million to construct a new biodigester, which will turn organic waste into biogas. As well as helping its Carregado facility to achieve a 30% reduction in carbon emissions, the biodigester will also contribute to reducing gas consumption, allowing the installation to use the biogas produced during the anaerobic digestion process.
Kerry is sponsoring The Kerry Upcycled Food Foundation Fellowship in a new partnership with the Upcycled Food Foundation (UFF), the non-profit subsidiary of the Upcycled Food Association (UFA). The research fellowship is the second initiated by the UFF and will work toward advancing the understanding of the market, consumer perception and technical opportunities of upcycled food.
