Milling & Baking News - June 1, 2010 - (Page 1)

THE NEWS WEEKLY OF GRAIN-BASED FOODS JUNE 1, 2010 / NEWS Purchasing Executives Tragedy, comedy play parts in executives' career paths I Revering the past with an eye on the future Kansas State University's Department of Grain Science and Industry celebrates its 100th anniversary Story on Page 20 LATE NEWS Trans fat drop exceeds saturated fat gain BOSTON - Major brand-name reformulations generally have reduced the trans fat content substantially without making equivalent increases in saturated fat content, according to a scientific analysis appearing in the May 27 issue of the New England Journal of Medicine. In most restaurant and supermarket foods, reductions took place in the total combined levels of saturated fat and trans fat. Levels of saturated fat were reduced in most restaurant foods. The analysis involved researchers from Harvard Medical School in Boston and the Center for Science in the Public Interest. They investigated 83 products, including 58 supermarket foods and Continued on Page 8 n the 13 years since Milling & Baking News began publishing annual profiles of purchasing executives, a definitive theme has emerged - college students generally do not aspire to a career in purchasing. Original career plans vary widely among the executives profiled over the years as do their stories of how they ended up in purchasing. The 2010 profiles are no exception. While tragic circumstances propelled one baking company employee into a purchasing career, a story with comic overtones was behind the second employee's odyssey into purchasing. The companies profiled this year also are emblematic of the diversity represented in the baking industry today. One company profiled is a multi-generational family-owned traditional baking company operating in the Midwest. The second, currently owned by a private-equity firm, is an artisan baking company established Continued on Page 27 With turnaround specialist at helm, questions about Sara Lee baking unit DOWNERS GROVE, ILL. - Noting that a turnaround group has been engaged to lead the Fresh Bakery division of Sara Lee Corp., a Wall Street analyst is asking whether the company may be poised to exit the bread business. While no permanent replacement has yet been named for James W. Nolan as chief executive officer of the Fresh Bakery Division, Michael A. Feder is serving as interim c.e.o. Mr. Feder is managing director of AlixPartners, L.L.P., a global business advisory firm. Mr. Nolan resigned in early April. In a report that otherwise cast a favorable light on Sara Lee, Robert Moskow, an analyst with Credit Suisse in New York, said he recently asked management, "Would they sell their lousy bread business?" The question was posed as part of a management meeting from which Mr. Moskow walked away "increasingly impressed with this management team and the progress they have made." Regarding the baking business, though, Mr. Moskow suggested no sale appears to be pending but that Sara Lee would sell if a buyer were to emerge. "They say they are not in any rush, and Continued on Page 10

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Milling & Baking News - June 1, 2010