MINNEAPOLIS -- General Mills said its board has elected Kendall J. Powell as CEO of the company. Powell, 53, joined the company in 1979 and was most recently president and COO. He succeeds Steve Sanger, 61, who has served as General Mills chairperson and CEO since May 1995. Sanger will continue as chair through the end of the current fiscal year in May 2008.
[Powell] has extensive knowledge of our global food categories, our customers and our worldwide operations, said Sanger. This deep-seated understanding of our business, coupled with Ken's commitment [image-nocss] to our culture and the development of our people, make him uniquely qualified to lead General Mills in the next phase of our long-term growth.
Powell has held a variety of general management assignments over his 28-year career with General Mills, including president of the Yoplait Division from 1996 to 1997; president of Big G cereals from 1997 to 1999; and CEO of the company's Cereal Partners Worldwide (CPW) joint venture with Nestl a based in Switzerland from 1999 to 2004.Today, CPW generates $1.6 billion in annual net sales and sells ready-to-eat breakfast cereal in more than 130 international markets. Powell was named an executive vice president of General Mills in 2004 and was appointed COO of U.S. retail in 2005. He was named president and COO of General Mills in June 2006.
General Mills, with annual net sales exceeding $12 billion, is a leading global manufacturer and marketer of consumer foods products. Based in Minneapolis, Minn., its global brand portfolio includes cereals such as Cheerios, Cinnamon Toast Crunch and Fiber One; Progresso soups; Helper dinner mixes; Yoplait yogurt; Nature Valley granola bars; Pillsbury refrigerated dough; Totino's frozen pizza and snacks; Betty Crocker dessert mixes, Green Giant vegetables, H aagen-Dazs ice cream, Old El Paso Mexican foods; and Cascadian Farm and Muir Glen organic foods. General Mills is a leading supplier of food products to the foodservice and commercial baking industries, and sells products in more than 100 international markets around the globe.
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