Milling & Baking News - February 27, 2018 - 32

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Nestle USA promotes Presley
to chief executive officer

can do all that!

ARLINGTON, VA. - Steve Presley, chief
finance and strategic transformation officer for Nestle USA, has been named
market head and chief executive officer of
Nestle USA, effective April 1. He succeeds
Paul Grimwood, who will remain
with the company as non-executive
chairman until May 2019.
Mr. Presley began his career with
Nestle S.A. more than 20 years ago
as a controller for a beverage factory
in Suffolk, Va. He has held various
roles within the beverage division, Presley
including vice-president of finance
and vice-president and general manager
of premium ready-to-drink beverages. In
2009, he was named president of Nestle
Business Services. He was named chief financial officer of Nestle USA in 2013, and in
2016 his role was expanded to include leading Nestle USA's strategic transformation,
assuming responsibility for developing,
implementing and leading strategies to ensure long-term growth of the company. His
replacement as c.f.o. will be announced at a
later date, the company said.
"Steve has played a critical role in driving
the strategic transformation of Nestle USA
alongside Paul," said Laurent Freixe, Nestle
executive vice-president and head of Zone
Americas. "His powerful combination of
deep commercial and financial expertise

provides continuity and makes him ideally
suited to lead Nestle USA in the changing
consumer marketplace. Steve's experience will prove invaluable in continuing to
pursue new internal and external models
to increase the speed of innovation,
capitalize on M.&A. to seed our innovation machine, and create new
income streams and capabilities."
Mr. Grimwood has been chairman and c.e.o. of Nestle USA since
2012. He joined the company in
2001 as country business manager
for Nestle Purina PetCare U.K. and
Ireland. In 2005, he advanced to the role
of head of operations for Zone Europe
and was later appointed market head
for the U.K. and Ireland in 2009. As nonexecutive chairman, Mr. Grimwood will
continue to provide strategic counsel
with a focus on stakeholder relations.
"Paul's dedication to Nestle and his exceptional leadership helped propel Nestle USA to record service levels, working
capital and profitability in 2017," Mr.
Freixe said. "He achieved this success
while simultaneously orchestrating Nestle USA's strategic transformation, which
included the sale of our confections business, moving our headquarters across the
country, and leading acquisitions and investments." MBN

Paul Norman to step down as
president of Kellogg North America

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32 / February 27, 2018
Milling & Baking News

BATTLE CREEK, MICH. - Paul T. Norman, president, Kellogg North America
at Kellogg Co., will be retiring from the
company to pursue other opportunities,
according to a Feb. 16 filing with the Securities and Exchange Commission. Mr.
Norman will remain with the company through April 1 to ensure an
orderly transition. Until a successor
is named, Kellogg chief executive
Steven A. Cahillane will oversee the
Kellogg North America business.
Mr. Norman began his career at
Kellogg in 1987, joining the com- Norman
pany's U.K. sales group. He was
promoted to a number of marketing roles
in France and Canada in the years 1989 to
1996 and became director of marketing,
Kellogg de Mexico in 1997. He was named
vice-president of marketing, Kellogg USA
in 1999 and president of Kellogg Canada
in 2000. In 2002, Mr. Norman returned
to Europe as managing director, United
Kingdom/Republic of Ireland, and was

promoted in 2004 to vice-president, Kellogg
Co., and president of U.S. Morning Foods,
a position he held until 2008. He was president of Kellogg International from 2008 to
2013, when he was named chief growth
officer. He was named president, Kellogg
North America in 2015, assuming
responsibility for managing a portfolio of businesses within the region,
including U.S. Morning Foods, U.S.
Snacks, U.S. Frozen Foods, U.S. Specialty Channels and Canada.
Mr. Norman's departure comes
at a troubling time for Kellogg Co.,
which has struggled to achieve
consistent top-line growth in recent
years. Net income attributable to Kellogg
Co. for the year ended Dec. 30, 2017, was
$1,269 million, equal to $3.65 per share on
the common stock, up sharply from $694
million, or $1.98, in the prior year. Net
sales dipped 0.7% to $12,923 million from
$13,014 million. On a currency-neutral
basis, net sales declined 2.6%. MBN
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