General Mills Says New Structure Will Impact About 400-600 Positions

(RTTNews) - General Mills (GIS) announced a new global organizational structure. The company is eliminating the position of International Chief Operating Officer. Effective January 1, 2017, four business groups will report directly to Harmening, each led by a Group President. The new structure is expected to impact about 400-600 positions world-wide.

As previously announced, Jeff Harmening, President and Chief Operating Officer has assumed global operations responsibilities reporting to Chairman and CEO Ken Powell. As part of this new structure, the company is eliminating the position of International Chief Operating Officer. Effective January 1, 2017, four business groups will report directly to Harmening, each led by a Group President: North America Retail (U.S. Retail & Canada) led by Jon Nudi; Europe & Australia led by Bethany Quam; Asia & Latin America led by Christina Law; Convenience Stores & Foodservice led by Shawn O'Grady.

"As we wrap up our 150th anniversary year, we are ready to take the next step in our journey to truly operate as a global company and fully resource our best ideas to drive growth," said Ken Powell, Chairman and CEO.

In addition to the four business groups, the company is aligning its current dairy strategic brand unit (SBU) to this new global organization structure. The Dairy SBU, based in France and led by Olivier Faujour, will report to Harmening.

The company said it will also enhance its growth capabilities in several areas including strategic revenue management (SRM), e-commerce, and marketing innovation, and intends to augment its current talent with external expertise in these areas over the next several months. The new global revenue development group, which includes SRM and e-commerce, will report to Shawn O'Grady, Group President Convenience Stores & Foodservice and SVP, Global Revenue Development. The company intends to name a new global CMO/Marketing Innovation leader, who will report to Harmening.

Global operations functions including Innovation, Technology & Quality (ITQ) and Supply Chain will continue to report to Harmening. Global corporate functions including Finance, Legal, Human Resources, and External Relations will continue to report to Powell.

The new structure is expected to impact approximately 400-600 positions world-wide, subject to consultation with employees and employee representatives in locations as required.

In addition, the capability investments and savings generated by these changes will help the company delivers fiscal 2018 adjusted operating profit margin target of 20 percent.