MINNEAPOLIS, Dec. 5, 2016 /PRNewswire/ -- General Mills
(NYSE: GIS) today announced a new global organizational structure
that will support growth and drive greater efficiency by
streamlining the company's leadership, maximizing global scale, and
increasing operational agility.
As previously announced, Jeff
Harmening, President and Chief Operating Officer has assumed
global operations responsibilities reporting to Chairman and CEO
Ken Powell. As part of this
new structure, the company is eliminating the position of
International Chief Operating Officer. Effective Jan. 1, 2017, four business groups will report
directly to Harmening, each led by a Group President:
- North America Retail (U.S. Retail & Canada) led by Jon
Nudi
- Europe & Australia led by Bethany Quam
- Asia & Latin America led by Christina Law
- Convenience Stores & Foodservice led by Shawn O'Grady
"As we wrap up our 150th anniversary year, we are
ready to take the next step in our journey to truly operate as a
global company and fully resource our best ideas to drive growth,"
said Ken Powell, Chairman and
CEO.
In addition to the four business groups, the company is aligning
its current dairy strategic brand unit (SBU) to this new global
organization structure. The Dairy SBU, based in France and led by Olivier Faujour, will report
to Harmening and will work with the Group Presidents to explore
further opportunities to drive growth and innovation for the dairy
platform globally. General Mills holds No. 2 positions worldwide in
both yogurt and super-premium ice cream, with brands including
Yoplait and Häagen-Dazs.
The company will also enhance its growth capabilities in several
areas including strategic revenue management (SRM), e-commerce, and
marketing innovation, and intends to augment its current talent
with external expertise in these areas over the next several
months. The new global revenue development group, which includes
SRM and e-commerce, will report to Shawn
O'Grady, Group President Convenience Stores &
Foodservice and SVP, Global Revenue Development. The company
intends to name a new global CMO/Marketing Innovation leader, who
will report to Harmening.
Global operations functions including Innovation, Technology
& Quality (ITQ) and Supply Chain will continue to report to
Harmening. Global corporate functions including Finance, Legal,
Human Resources, and External Relations will continue to report to
Powell.
The new structure is expected to impact approximately 400-600
positions world-wide, subject to consultation with employees and
employee representatives in locations as required.
"We continue to prioritize both growth and returns," said
Jeff Harmening, President and Chief
Operating Officer. "The structural changes announced today
will help us unlock global growth opportunities and go after them
by efficiently restructuring our teams and processes. In
addition, the capability investments and savings generated by these
changes will help us deliver our fiscal 2018 adjusted operating
profit margin target of 20 percent."
About General Mills
General Mills is a leading global food company that serves the
world by making food people love. Its brands include
Cheerios, Annie's, Yoplait, Nature
Valley, Fiber One, Häagen-Dazs, Betty Crocker, Pillsbury, Old El
Paso, Wanchai Ferry,
Yoki and more. Headquartered in Minneapolis, Minnesota, USA, General Mills
generated fiscal 2016 consolidated net sales of US $16.6 billion, as well as another US $1.0 billion from its proportionate share of
joint-venture net sales.
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SOURCE General Mills