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General Mills has its eye on growth with its latest executive changes.
The cereals major has appointed Asheesh Sakena as chief strategy and growth officer, a role in which he will be responsible for the company’s long-term growth plans and acceleration strategies. According to a press release:.
Prior to joining General Mills, Saxena held executive roles at several leading companies, including Best Buy, Cox Communications and Time Warner Cable, and most recently served as chief growth officer at Gap Inc., where he oversaw the company’s portfolio diversification.
CEO Jeff Harmening said in a statement that Saxena has driven growth across multiple industries.
“We continue to build bold brands, relentlessly innovate and refresh our portfolio for modern families, and I am confident Asheesh will play a key role in fostering consumer attachment to our iconic core brands,” Harmening said.
Saxena will begin his role on Aug. 26 and report to Harmening. He succeeds Dana McNabb, who held the role before being named group president of the company’s North American retail division.
General Mills, which had net sales of $20 billion last year, has been working to expand its portfolio and find new avenues for revenue growth as it faces a long-term decline in sales of its core cereal products. Latest Earnings Report The company said in June that its net sales fell 6% last quarter to $4.7 billion.
the Latest Earnings ReportHarmening highlighted the push for innovation from big-name brands, pointing to new product developments such as Cheerios Veggie Blend, Nature Valley Savory Bars and Mott’s. A snack bar that debuted last year.
In recent years, the company has expanded further into the pet food sector after acquiring Blue Buffalo for $8 billion in 2018. At the end of 2023, it promoted company veteran John Nudy to head of its pet food division.
