Powell to succeed Sanger as Gene GM chairman
May 05, 2008
by Eric Schroeder
MINNEAPOLIS — The board of directors of General Mills, Inc. has elected Kendall J. Powell chairman of the board and chief executive officer, effective May 23. He will succeed Stephen W. Sanger, who will retire as chairman following a 34-year career with the company.
Mr. Powell, 54, joined General Mills in 1979 and has been c.e.o. since last September.
"Under Steve’s leadership, General Mills has delivered strong returns to shareholders; created high quality, nutritious and convenient food products for consumers; advanced a corporate culture that attracts and develops great people; and effected positive change in the world through its many corporate citizenship initiatives," said Ray Gilmartin, chairman of the board’s Corporate Governance Committee. "We will all miss working with Steve and wish him the very best in the years ahead.
"The directors unanimously agree that Ken Powell is uniquely qualified to lead the company and our board through the next phase of General Mills’ long-term growth. His deep knowledge of our business and the global food industry, combined with his commitment to the company’s distinctive culture, make him an outstanding choice."