Ken Powell will be retiring as General Mills’ chairman of the board, effective at the end of the year. The company’s board of directors has elected CEO Jeffrey Harmening to serve as chairman upon Powell’s retirement effective Jan. 1, 2018. Harmening will continue to serve as the company’s CEO.
“Today’s announcement concludes a long and thoughtful process of leadership transition by the board of directors,” said Kerry Clark, independent lead director of the General Mills board. “We are very supportive of Jeff’s leadership efforts on behalf of the company since his appointment as CEO.”
Harmening became CEO June 1, 2017, when Powell stepped down from the role. At the time, it was expected that Powell would serve as the company’s chairman for a transition period until his retirement.
Powell added, “Jeff is leading the company through significant changes with a steady and thoughtful hand, and it is exciting to see the speed in which the teams are responding.”
The company recently restructured to move to one global leadership team with four business segments reporting directly to the CEO, and has made significant moves to globalize functions.
“I would like to thank Ken for his support through this transition period and for the leadership legacy that he has left for us,” said Harmening. “We all wish him the very best on his retirement.”