General Mills Announces Agreements to Sell Its North American Yogurt Business to Lactalis and Sodiaal

General Mills, Inc. (NYSE: GIS) today announced that it has entered into definitive agreements to sell its North American Yogurt business to Lactalis and Sodiaal, two leading French dairy companies, in cash transactions valued at an aggregate $2.1 billion USD. Following the completion of the transactions, the U.S. and Canadian businesses will operate independently, with Lactalis acquiring the U.S. business and Sodiaal acquiring the Canadian business. The proposed transactions are expected to close in calendar 2025, subject to receipt of requisite regulatory approvals and other customary closing conditions.

The divestitures encompass the U.S. and Canada operations of several yogurt brands including...

General Mills Names Asheesh Saksena Chief Strategy & Growth Officer

General Mills today announced Asheesh Saksena has been named Chief Strategy & Growth Officer, effective Aug. 26, 2024. He will report to Jeff Harmening, Chairman and CEO, join the Senior Leadership Team, and have global accountability for the company's comprehensive strategic planning process and for building long-term, sustainable plans and capabilities to accelerate growth. Saksena succeeds Dana McNabb, following her prior appointment to Group President, North America Retail.

“I’m thrilled to welcome Asheesh to General Mills,” said Harmening. “Over the course of his career, Asheesh has consistently demonstrated...

General Mills Announces Long-time Senior Executive Shawn O’Grady to Retire

General Mills today announced the retirement of Shawn O’Grady, Group President, North America Foodservice (NAF). To facilitate a smooth transition, O’Grady will move into a Senior Advisor role until his retirement early this summer. Effective Feb. 16, 2024, Jon Nudi, currently Group President, Pet and International, will add NAF to his oversight. Pankaj Sharma, currently President, U.S. Meals & Baking Solutions operating unit, will be promoted to Segment President, NAF. Sharma will report to Nudi and join the General Mills Senior Leadership Team.

“Shawn has been a tremendous asset...