General Mills has announced several changes in its senior management team as chief financial officer, Don Mulligan, is to retire on 1 June 2020.
The Yoplait maker has named controller Kofi Bruce as its new chief financial officer, effective 1 February 2020.
He will also take on the role of vice-president of financial operations, from 1 September 2019.
An Experienced Professional
Bruce is an experienced professional who joined General Mills in 2009 and held various top positions including vice-president of finance for the company's US Yoghurt operating unit, the company said.
He has been instrumental in improving the company's profit and is known for his ability to develop and implement creative, sustainable solutions and handle complex organisational challenges, it added.
Before joining General Mills, he worked for Ford Motor Company and Ecolab in various finance leadership roles.
Transition Period
Mulligan will transition to an advisory capacity effective 1 February 2020 and will retire on 1 June 2020.
He has been part of General Mills for 21 years in various finance leadership roles including responsibilities for the international division, technical community and as a treasurer.
He was appointed as the company's CFO in 2007 was responsible for worldwide finance, mergers and acquisitions, strategy, investor relations, external reporting, internal audit, tax and treasury.
'An Incredible Asset'
Commenting on Mulligan's retirement, chief executive, Jeff Harmening, said, "Don has been an incredible asset to General Mills for more than 20 years. During his tenure as CFO, General Mills generated a 185% increase in value to our shareholders.
"He’s developed and mentored critical finance and cross-functional talent to ensure the organisation is best in class, and his dedication to employees and shareholders alike has helped mould General Mills into the global company it is today."
Other Changes
Elsewhere, Billy Bishop, the group president of the company's pet division will take on the role of founder and brand advisor, effective 1 January 2020.
In his new role, Bishop will step back from day-to-day management of the division and focus on brand strategy and innovation pipeline.
Bethany Quam, the group president of Europe and Australia, will replace Bishop as the new group president from 1 October 2019.
The president of the US cereals division, Dana McNabb, will step in as the group president of Europe and Australia, effective 1 January 2020.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
