General Mills Announces Changes To Senior Leadership Team

• Don Mulligan, Chief Financial Officer to retire effective June 1, 2020
• Kofi Bruce, Vice President, Controller, promoted to Vice President, Financial Operations effective September 1, 2019, and will be promoted to Chief Financial Officer role, effective February 1, 2020
• Billy Bishop, Group President, Pet segment, named Founder & Brand Advisor, Pet segment, effective January 1, 2020
• Bethany Quam, Group President, Europe & Australia segment, named Group President, Pet segment, effective October 1, 2019
• Dana McNabb, President, U.S. Cereal, promoted to Group President, Europe & Australia segment, effective January 1, 2020

August 20, 2019 08:27 AM Eastern Daylight Time

MINNEAPOLIS--(BUSINESS WIRE)--General Mills (NYSE: GIS) announced today several changes to its senior leadership team. The changes reflect a thoughtful and strategic approach to long-term growth and succession planning for the global organization.

“I’m proud of the depth and diversity of General Mills’ leadership talent, which is reflected in the quality of the people transitioning to and from our senior leadership team,” said Jeff Harmening, Chairman of the Board and Chief Executive Officer of General Mills. “To ensure that we continue to execute well and to deliver on our commitments to improve sales growth and strong profitability, we have been intentional in the timing of our transitions.”

Finance

Don Mulligan, Chief Financial Officer, will transition to an advisory capacity effective February 1, 2020, and will retire effective June 1, 2020. Kofi Bruce, currently Controller, will be promoted to Vice President, Financial Operations, effective September 1, 2019, and will succeed Mulligan as Chief Financial Officer on February 1, 2020.

Mulligan has been with General Mills for 21 years in various finance leadership roles including responsibilities for the International division, Technical community and Treasurer. Mulligan has held the CFO role since 2007 with overall company responsibility for worldwide finance, mergers and acquisitions, strategy, investor relations, external reporting, internal audit, tax and treasury.

“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,” said Harmening. “Don was instrumental in this performance by helping craft plans that balanced long-term growth and profitability and initiatives that actively transformed our portfolio to be more global and more growth-facing. He’s developed and mentored critical finance and cross-functional talent to ensure the organization is best in class, and his dedication to employees and shareholders alike has helped mold General Mills into the global company it is today.”

Bruce joined General Mills in 2009, following 10 years of experience in various finance leadership roles at Ford Motor Company and Ecolab. During his tenure at General Mills, he has served as Treasurer; Vice President, Finance for the U.S. Yogurt operating unit; Vice President, Finance for the Convenience Stores & Foodservice segment and Global Revenue Development; and his most recent role as Controller. Over his 10 years at General Mills, his leadership has helped to deliver significant profit improvement through operating cost savings, lower financing costs and dramatic increases in the Convenience Stores & Foodservice segment’s profitability. Bruce is known for his ability to work cross-functionally in developing and implementing creative, sustainable solutions to complex organization challenges.

Pet segment

Billy Bishop, Group President, Pet segment, will assume the role of Founder & Brand Advisor for the Pet segment, effective January 1, 2020. Bishop co-founded Blue Buffalo with his father, Bill Sr. and brother, Chris in 2002. Billy Bishop will step back from day-to-day management and will maintain an ongoing role providing input on brand strategy and innovation pipeline.

“The Bishops will always be a part of the Blue Buffalo family,” said Harmening. “Since they started Blue Buffalo in 2002, they have worked tirelessly to support the mission of BLUE. We are happy that they will continue to serve the Herd and all the Buffs in this new capacity, allowing them time together as a family as well.”

Bethany Quam, Group President, Europe & Australia segment, will be appointed Group President, Pet segment, effective October 1, 2019. Quam has held her current role since 2016. Since joining General Mills in 1993, she has held positions with increasing responsibility across sales, finance and strategy, and served as Group President, Convenience Stores & Foodservice segment.

Europe & Australia segment

Dana McNabb, President, U.S. Cereal will be promoted to Group President, Europe & Australia segment, effective January 1, 2020. McNabb has been with General Mills for 20 years and has served in a variety of marketing leadership roles across multiple categories. Before her role in U.S. Cereal, she was Vice President of Global Marketing for Cereal Partners Worldwide, the General Mills cereal joint venture with Nestlé based in Switzerland. McNabb has been in her current role since 2016. Under her leadership, Big G cereals achieved category leadership in the U.S. for the first time in more than 10 years, led category pricing, modernized our marketing approach and delivered the top new products in the category. McNabb is a dynamic and global leader known for her strong cross-functional leadership, innovation and broad perspective.

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, Häagen-Dazs, Betty Crocker, Pillsbury, Old El Paso, Wanchai Ferry, Yoki, Blue and more. Headquartered in Minneapolis, Minnesota, USA, General Mills generated fiscal 2019 net sales of U.S. $16.9 billion. In addition, General Mills’ share of non-consolidated joint venture net sales totaled U.S. $1.0 billion.