Milling & Baking News - July 4, 2006 - (Page 1)

Theinewsweeklyiofigrain-basedifoods LATE NEWS MINNEAPOLIS - Following a year in which both the Big G Cereals and the Pillsbury USA divisions posted sales declines of 1%, General Mills chairman and chief executive officer Stephen W. Sanger identified renewing sales growth in the two units as the No. 1 objective for fiscal 2007. "With good category dynamics in place, Big G's merchandising levels and price points restored, good levels of new product activity, and marketing support in our plans, we have every expectation of renewing growth for Big G in 2007," Mr. Sanger said in a June 29 conference call. Net income of General Mills, Inc. in the year ended Continued on Page 8 Pillsbury, Big G to get more attention Riding wave of growth, Otis Spunkmeyer seeks more after i.p.o SAN LEANDRO, CALIF. - Building on a leading position as a supplier of frozen cookie dough to food service customers, Otis Spunkmeyer Holdings, Inc. has a range of opportunities to grow its business in coming years, the company said. A detailed overview of the company and a glimpse into its plans for growth were included in a prospectus filed June 19 with the Securities and Exchange Commission in connection with a proposed initial public offering of up to $230 million in common stock. While the company sells a range of sweet goods to a variety of customers, Otis Continued on Page 12 JULY 4, 2006 / Irene Rosenfeld returns to Kraft as new c.e.o.; Deromedi leaves NORTHFIELD, ILL. - Irene B. Rosenfeld, who spent more than 20 years with Kraft Foods Inc. and General Foods before leaving in July 2003, has returned to Kraft, this time as chief executive officer. She succeeds Roger K. Deromedi, who has mutually agreed with the Kraft board to leave the company to pursue other interests. "The entire board is delighted to have Irene in place," said Louis C. Camilleri, chairman of Kraft. "While the fundamentals of the business continue to improve, we are confident that Irene will accelerate the execution of Kraft's growth strategy, build value for shareholders, and lead Kraft when it becomes a fully independent company." After leaving Kraft in 2003, Ms. Rosenfeld in September 2004 was named chair- man and chief executive officer of FritoLay, Inc., a division of PepsiCo, Inc. At the time of her departure from Kraft, Ms. Rosenfeld was president of the Northfield-based company's North American businesses, a position she was promoted to fill in October 2002. Earlier, she was group vice-president of Kraft Foods North America's operations, technology, procurement and information systems for Canada, Puerto Rico and Mexico. In this position, she led the $19 billion Kraft/Nabisco integration plan, following Kraft's acquisition of the Nabisco Holdings Corp. She was executive vice-president and general manager in Kraft's Beverages, and Continued on Page 35 Benefit seen in fortifying whole wheat bread with vitamin D ORLANDO, FLA. - Consumers of whole wheat bread would benefit if the bread were fortified with vitamin D, according to a new study. Results of the research were presented June 25 at the Institute of Food Technologists Annual Meeting and Food Expo at the Orange County Convention Center in Orlando. The authors suggested that fortifi- COOKIES cation of grain-based foods beyond whole wheat bread should be considered if broad progress is to be made in efforts to cut into the current deficit of vitamin D consumption among certain population subsets. Discussing the study at I.F.T. was Richard Forshee, deputy director and Continued on Page 34 industry perspective Baking companies fight sliding cookie sales with innovation inside THIS WEEK Charter buys another small baking company 10 Ingredient Do-or-die time for Doha round talks Al Carey to replace Rosenfeld at Frito-Lay 24 36 Week sponsored by 37

Table of Contents for the Digital Edition of Milling & Baking News - July 4, 2006


Milling & Baking News - July 4, 2006