Milling & Baking News Corporate Profiles - 2017 - 86

Company Overview

General Mills, Inc.
New leadership, strategy part of significant change heading into 2018

Chief executive officer -
Jeffrey L. Harmening

86 \ October 2017

General Mills, Inc.
net income
in millions
fiscal years ended in May

Mills' new strategy will be similar to its old
strategy, with one significant difference -
It is enhancing its capabilities and bringing
global insights to local markets.
During General Mills' July 12 Investor Day
in New York City, an analyst asked Mr. Harmening how his go-to-market strategy will
differ from his predecessor.
" ... The fact that we're structured more
globally and now our priorities are being expressed globally," Mr. Harmening said. "And
... the fact that we have fewer layers and now
have an organization that's more global."
While much focus has been on General
Mills' weak performance in North America,
Mr. Harmening emphasized that many of
the issues disrupting business in the United States are emerging around the world,
whether it is in how consumers perceive
health or in how digital technologies are affecting the sale and delivery of food.
General Mills' net income in fiscal 2017,
ended May 28, totaled $1,657.5 million,
equal to $2.82 per share on the common
stock, down 2% from $1,697.4 million,
or $2.83 per share, in fiscal 2016. Net
sales also were lower, falling nearly 6% to
$15,619.8 million from $16,563.1 million.
To achieve its 2018 goals, Donal L. Mulligan, chief financial officer, said the company
is targeting a higher level of media investment to support brands and innovation.
"We're also investing behind capabilities
like e-commerce and strategic revenue management that are critical to future growth,
showing how bringing to life our e-commerce
investment is creating advantage for General Mills, and we're penetrating new geographies by bringing Yoplait to more cities in
China and expanding Häagen-Dazs stick bars
around the world," Mr. Mulligan said. "Finally
... we have issues under way in our H.R. and
finance functions to further standardize, automate and centralize functional processes
on a global basis, which in turn will take our
work and improve our operating controls."
In a Sept. 7 presentation at the Barclays

2017

2016

2015

$1,657.5

$1,697.4

$1,221.3

General Mills, Inc.
net sales
in millions
fiscal years ended in May

I

n December 2016, General Mills, Inc.,
Minneapolis, unveiled a new global organizational structure designed to streamline the company's leadership, maximize
global scale and increase operational agility.
As part of the new structure, four business
groups, each led by a group president, were
formed: North America Retail (U.S. Retail &
Canada) led by Jon Nudi; Europe & Australia
led by Bethany Quam; Asia & Latin America led by Christina Law; and Convenience
Stores & Foodservice led by Shawn O'Grady.
But the changes announced last December
were only the beginning for General Mills. In
June, Jeffrey L. Harmening took over as chief
executive officer of the company, succeeding
Kendall J. Powell, who will remain chairman
of the company during a transition and then
retire. Mr. Harmening had been president and
chief operating officer of General Mills.
A month later, Ivan Pollard assumed the
position of global chief marketing officer. In
his new role, Mr. Pollard will be responsible
for establishing the company's first global
marketing and media planning function as
well as for marketing strategies, connections planning, and building organizational
capabilities globally.
With Mr. Harmening in charge, General

2017

2016

2015

$15,619.8

$16,563.1

$17,630.3

General Mills, Inc.
share price

per share
$65

$60

$55

$50
Sept. Dec. Mar. June Sept.
2016
2017

Milling & Baking News * Food Business News * Baking & Snack * Meat+Poultry

Corporate Profiles



Table of Contents for the Digital Edition of Milling & Baking News Corporate Profiles - 2017

Corporate Profiles - 2017
Contents
Editorial - Peeling through deep layers of change in food industry
Grain-based foods - Slow growth in baking has category leaders searching for answers
Packaged foods - Frozen innovation shakes up challenged category
Beverages - Bottled water, energy drinks charge ahead
Meat and poultry - Consumer demand accelerates as market recovers from impact of drought and avian influenza
Dairy - Milk in many forms affects the dairy category
Confectionery - Transparency ahead, consolidation on the horizon?
Food service - Healthy and clean menu items, technology and value drive traffic
Trend of the year - Retail revolution: Retail market for food and beverages undergoing dramatic changes
Aryzta AG
Grupo Bimbo S.A.B. de C.V.
Campbell Soup Co.
The Coca-Cola Co.
Conagra Brands, Inc.
Danone S.A.
Flowers Foods, Inc.
General Mills, Inc.
Hain Celestial Group, Inc.
The Hershey Co.
Hormel Foods Corp.
Hostess Brands, Inc.
JAB Holding Co.
The Kellogg Co.
Kraft Heinz Co.
McCormick & Co.
Mondelez International, Inc.
Nestle S.A.
PepsiCo, Inc.
Pinnacle Foods, Inc.
Post Holdings, Inc.
Snyder's-Lance, Inc.
Starbucks Coffee Co.
TreeHouse Foods, Inc.
Tyson Foods, Inc.
Ad Index
Milling & Baking News Corporate Profiles - 2017 - Corporate Profiles - 2017
Milling & Baking News Corporate Profiles - 2017 - 2
Milling & Baking News Corporate Profiles - 2017 - 3
Milling & Baking News Corporate Profiles - 2017 - 4
Milling & Baking News Corporate Profiles - 2017 - 5
Milling & Baking News Corporate Profiles - 2017 - Contents
Milling & Baking News Corporate Profiles - 2017 - 7
Milling & Baking News Corporate Profiles - 2017 - Editorial - Peeling through deep layers of change in food industry
Milling & Baking News Corporate Profiles - 2017 - 9
Milling & Baking News Corporate Profiles - 2017 - Grain-based foods - Slow growth in baking has category leaders searching for answers
Milling & Baking News Corporate Profiles - 2017 - 11
Milling & Baking News Corporate Profiles - 2017 - 12
Milling & Baking News Corporate Profiles - 2017 - 13
Milling & Baking News Corporate Profiles - 2017 - 14
Milling & Baking News Corporate Profiles - 2017 - 15
Milling & Baking News Corporate Profiles - 2017 - 16
Milling & Baking News Corporate Profiles - 2017 - 17
Milling & Baking News Corporate Profiles - 2017 - 18
Milling & Baking News Corporate Profiles - 2017 - 19
Milling & Baking News Corporate Profiles - 2017 - 20
Milling & Baking News Corporate Profiles - 2017 - 21
Milling & Baking News Corporate Profiles - 2017 - 22
Milling & Baking News Corporate Profiles - 2017 - 23
Milling & Baking News Corporate Profiles - 2017 - 24
Milling & Baking News Corporate Profiles - 2017 - 25
Milling & Baking News Corporate Profiles - 2017 - Packaged foods - Frozen innovation shakes up challenged category
Milling & Baking News Corporate Profiles - 2017 - 27
Milling & Baking News Corporate Profiles - 2017 - 28
Milling & Baking News Corporate Profiles - 2017 - 29
Milling & Baking News Corporate Profiles - 2017 - 30
Milling & Baking News Corporate Profiles - 2017 - Beverages - Bottled water, energy drinks charge ahead
Milling & Baking News Corporate Profiles - 2017 - 32
Milling & Baking News Corporate Profiles - 2017 - 33
Milling & Baking News Corporate Profiles - 2017 - 34
Milling & Baking News Corporate Profiles - 2017 - 35
Milling & Baking News Corporate Profiles - 2017 - 36
Milling & Baking News Corporate Profiles - 2017 - 37
Milling & Baking News Corporate Profiles - 2017 - Meat and poultry - Consumer demand accelerates as market recovers from impact of drought and avian influenza
Milling & Baking News Corporate Profiles - 2017 - 39
Milling & Baking News Corporate Profiles - 2017 - 40
Milling & Baking News Corporate Profiles - 2017 - 41
Milling & Baking News Corporate Profiles - 2017 - Dairy - Milk in many forms affects the dairy category
Milling & Baking News Corporate Profiles - 2017 - 43
Milling & Baking News Corporate Profiles - 2017 - 44
Milling & Baking News Corporate Profiles - 2017 - 45
Milling & Baking News Corporate Profiles - 2017 - 46
Milling & Baking News Corporate Profiles - 2017 - 47
Milling & Baking News Corporate Profiles - 2017 - Confectionery - Transparency ahead, consolidation on the horizon?
Milling & Baking News Corporate Profiles - 2017 - 49
Milling & Baking News Corporate Profiles - 2017 - 50
Milling & Baking News Corporate Profiles - 2017 - 51
Milling & Baking News Corporate Profiles - 2017 - 52
Milling & Baking News Corporate Profiles - 2017 - 53
Milling & Baking News Corporate Profiles - 2017 - Food service - Healthy and clean menu items, technology and value drive traffic
Milling & Baking News Corporate Profiles - 2017 - 55
Milling & Baking News Corporate Profiles - 2017 - 56
Milling & Baking News Corporate Profiles - 2017 - 57
Milling & Baking News Corporate Profiles - 2017 - Trend of the year - Retail revolution: Retail market for food and beverages undergoing dramatic changes
Milling & Baking News Corporate Profiles - 2017 - 59
Milling & Baking News Corporate Profiles - 2017 - 60
Milling & Baking News Corporate Profiles - 2017 - 61
Milling & Baking News Corporate Profiles - 2017 - 62
Milling & Baking News Corporate Profiles - 2017 - 63
Milling & Baking News Corporate Profiles - 2017 - 64
Milling & Baking News Corporate Profiles - 2017 - 65
Milling & Baking News Corporate Profiles - 2017 - 66
Milling & Baking News Corporate Profiles - 2017 - 67
Milling & Baking News Corporate Profiles - 2017 - Aryzta AG
Milling & Baking News Corporate Profiles - 2017 - 69
Milling & Baking News Corporate Profiles - 2017 - Grupo Bimbo S.A.B. de C.V.
Milling & Baking News Corporate Profiles - 2017 - 71
Milling & Baking News Corporate Profiles - 2017 - 72
Milling & Baking News Corporate Profiles - 2017 - 73
Milling & Baking News Corporate Profiles - 2017 - Campbell Soup Co.
Milling & Baking News Corporate Profiles - 2017 - 75
Milling & Baking News Corporate Profiles - 2017 - The Coca-Cola Co.
Milling & Baking News Corporate Profiles - 2017 - 77
Milling & Baking News Corporate Profiles - 2017 - Conagra Brands, Inc.
Milling & Baking News Corporate Profiles - 2017 - 79
Milling & Baking News Corporate Profiles - 2017 - Danone S.A.
Milling & Baking News Corporate Profiles - 2017 - 81
Milling & Baking News Corporate Profiles - 2017 - Flowers Foods, Inc.
Milling & Baking News Corporate Profiles - 2017 - 83
Milling & Baking News Corporate Profiles - 2017 - 84
Milling & Baking News Corporate Profiles - 2017 - 85
Milling & Baking News Corporate Profiles - 2017 - General Mills, Inc.
Milling & Baking News Corporate Profiles - 2017 - 87
Milling & Baking News Corporate Profiles - 2017 - 88
Milling & Baking News Corporate Profiles - 2017 - 89
Milling & Baking News Corporate Profiles - 2017 - Hain Celestial Group, Inc.
Milling & Baking News Corporate Profiles - 2017 - 91
Milling & Baking News Corporate Profiles - 2017 - The Hershey Co.
Milling & Baking News Corporate Profiles - 2017 - 93
Milling & Baking News Corporate Profiles - 2017 - Hormel Foods Corp.
Milling & Baking News Corporate Profiles - 2017 - 95
Milling & Baking News Corporate Profiles - 2017 - Hostess Brands, Inc.
Milling & Baking News Corporate Profiles - 2017 - 97
Milling & Baking News Corporate Profiles - 2017 - JAB Holding Co.
Milling & Baking News Corporate Profiles - 2017 - 99
Milling & Baking News Corporate Profiles - 2017 - The Kellogg Co.
Milling & Baking News Corporate Profiles - 2017 - 101
Milling & Baking News Corporate Profiles - 2017 - 102
Milling & Baking News Corporate Profiles - 2017 - 103
Milling & Baking News Corporate Profiles - 2017 - Kraft Heinz Co.
Milling & Baking News Corporate Profiles - 2017 - 105
Milling & Baking News Corporate Profiles - 2017 - McCormick & Co.
Milling & Baking News Corporate Profiles - 2017 - 107
Milling & Baking News Corporate Profiles - 2017 - Mondelez International, Inc.
Milling & Baking News Corporate Profiles - 2017 - 109
Milling & Baking News Corporate Profiles - 2017 - Nestle S.A.
Milling & Baking News Corporate Profiles - 2017 - 111
Milling & Baking News Corporate Profiles - 2017 - PepsiCo, Inc.
Milling & Baking News Corporate Profiles - 2017 - 113
Milling & Baking News Corporate Profiles - 2017 - Pinnacle Foods, Inc.
Milling & Baking News Corporate Profiles - 2017 - 115
Milling & Baking News Corporate Profiles - 2017 - Post Holdings, Inc.
Milling & Baking News Corporate Profiles - 2017 - 117
Milling & Baking News Corporate Profiles - 2017 - Snyder's-Lance, Inc.
Milling & Baking News Corporate Profiles - 2017 - 119
Milling & Baking News Corporate Profiles - 2017 - Starbucks Coffee Co.
Milling & Baking News Corporate Profiles - 2017 - 121
Milling & Baking News Corporate Profiles - 2017 - TreeHouse Foods, Inc.
Milling & Baking News Corporate Profiles - 2017 - 123
Milling & Baking News Corporate Profiles - 2017 - Tyson Foods, Inc.
Milling & Baking News Corporate Profiles - 2017 - 125
Milling & Baking News Corporate Profiles - 2017 - Ad Index
Milling & Baking News Corporate Profiles - 2017 - 127
Milling & Baking News Corporate Profiles - 2017 - 128
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