Grain giant General Mills Numerous leadership changes announced for 2024 The company will further advance into the pet food field and the overseas field, which the company calls its “two major growth fields.”
General Mills’ aggressive push into pet food comes as cereals, once its best-performing category, continue to face a long-term decline..
General Mills CEO Jeff Harmening said in a statement that the leadership changes come as the company adapts to the changing consumer goods landscape.
“These moves will enable us to best match our deep pool of senior talent to key fast-growing consumer sectors and opportunities,” said Harmening. “We are confident this will help advance the next chapter of our enterprise strategy.”
The company said Dana McNabb, chief strategy and growth officer, has been promoted to president of North American Retail, General Mills’ largest and most profitable division.segment Decrease in the most recent quarter While storage capacity is low, hunning said in a recent financial results announcement.general mills Overall portfolio trading volume is reported to have decreased. The same quarter saw a 5% decline in North American retail, pet and international segments.
General Mills said in a press release that its food retail segment remains its most profitable. Last week, the company introduced new varieties of six of its most popular cereal products, capitalizing on the growing demand for cereal as a snack food.grain giant Remain a category leadera spot it won after problems faced by its main rival, WK Kellogg Co., in recent years.
Promoting veterans like John Nudie The decision to lead the pet food division comes as the company aims to increase its presence in this sector. General Mills first entered the pet food space in 2018, acquiring Blue Buffalo for a whopping $8 billion. Last month, the company acquired pet food and supplement brand Ferra Pez for an undisclosed sum, the first acquisition from its new growth equity fund, which targets startups in trendy categories.
General Mills views its pet food business as a long-term investment.among them Latest quarterly financial results briefing held in SeptemberCFO Kofi Bruce said he believes growth in the $44 billion category is being driven by a 1% to 1.5% increase in the pet population, which will benefit luxury brands like Blue Buffalo. It pointed out.
A summary of the executive changes at General Mills is as follows.
- John Nudi will now serve as group president of the company’s pet food and international division. He has led the company’s North American retail division since 2016, and the company said he was instrumental in increasing market share.
- Ricardo Fernandez, who previously served as president of the company’s U.S. breakfast foods division, will work alongside Nudi as president of its international division.
- Dana McNabb will replace Nudi as group president of the company’s North American retail division. General Mills touted his accomplishments in his previous roles in making the company a top cereal company and boosting sales.
- General Mills said Bethany Quam will join McNabb as president of the company’s U.S. breakfast foods division after previously leading the company’s pet division to double-digit growth.
- Current Chief Financial Officer Kofi Bruce will temporarily oversee General Mills’ strategy and growth division and is searching for someone to fill the role.
