General Mills announced Wednesday that the company’s current chief operating officer will become its new CEO at the beginning of next year.
Dana McNabb was named to succeed Jeff Harmening, who will become executive chair of the company’s board after nearly a decade as CEO. McNabb originally joined General Mills’ operations in Canada and has spent 27 years at the Minnesota food giant, including spans as president of its U.S. cereal division, group president of its European and Australian segment, and chief strategy and growth officer.
Maria Henry, the independent lead director of General Mills’ board, said that the transition followed a “robust, multi-year succession planning process.”
“Dana has made significant contributions as a key member of the executive leadership of the company over the past few years, and across the business globally throughout her career,” Henry said in the announcement. “She has a strong track record of success, and a deep understanding of our consumers, our brands, our company and our industry.”
"It is an honor and a privilege to lead General Mills into the future,” said McNabb. "Returning the company to profitable growth is the priority, and we know how we'll get there.”
The Cheerios maker reported a slight uptick in net sales in its fiscal year that ended in May, but an annual operating loss of $2.1 billion. The company also owns the Pillsbury, Old El Paso, Häagen-Dazs and Blue Buffalo brands.
