Marcel Smits joins Sara Lee as c.f.o.

by Eric Schroeder
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DOWNERS GROVE, ILL. — Marcel H. M. Smits will join Sara Lee Corp. as executive vice-president and chief financial officer, effective Oct. 1. He will succeed Mark A. Garvey, who has been Sara Lee’s interim c.f.o. since May 11. Mr. Garvey will continue as a vice-president of Sara Lee and as senior vice-president of Finance and will assume additional responsibility for Sara Lee’s global IT organization.

Mr. Smits previously was c.f.o. and a member of the board at Koninklijke KPN n.v., a Dutch telecommunications company, from 2004 to 2009. Earlier, he was c.f.o. and member of the board at Vendex KBB (now known as Maxeda), a Dutch retail group, from 1999 to 2004. Prior to that, he held various financial and management positions in Europe, South America and Asia with Unilever n.v. from 1986 to 1999.

Mr. Smits received a master’s degree in business administration and a master’s degree in tax law both from the University of Amsterdam. He is a certified public accountant.

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