General Mills has promoted company veteran Dana McNabb to Chief Operating Officer (COO). McNabb, who joined the Cheerios maker in 1999, has worked across the company's major businesses, including cereal, snacks, meals and dairy. In her new role, she will lead global operating functions, including the company's supply chain, manufacturing and logistics.
The promotion further reshapes General Mills' supply chain leadership. In March, the food maker named company veteran Jonathan Ness as Chief Supply Chain Officer. Ness oversees manufacturing, logistics, sourcing and planning. McNabb's career path mirrors that of CEO Jeff Harmening, who served as COO at General Mills and spent 23 years at the company before becoming CEO in 2017.
The appointment comes as food makers deal with a decline in consumer spending. General Mills posted a 3% drop in organic sales during its most recent quarter and has cut prices on nearly two-thirds of its grocery products in North America to attract consumers. Shoppers are pushing back against multiple rounds of price increases from General Mills and other food companies amid persistent inflation.
CEO Harmening described McNabb as a "disciplined, strategic leader and results-driven operator." "As someone who looks ahead and acts with urgency, Dana has led an initiative to reinvigorate our brands by strengthening their remarkability," Harmening said. He emphasized that McNabb is exceptionally well suited to lead global operations and restore profitable growth for General Mills and its shareholders.
General Mills has been pushing to digitize its end-to-end operations to better handle disruptions and supply chain complexities. The company aims to achieve better visibility, productivity and strategic decision making. In October, the packaged foods company shuttered three manufacturing plants in Missouri as part of a multiyear effort to adjust its network footprint.
Key Takeaways:
1. General Mills has promoted Dana McNabb, a company veteran since 1999, to Chief Operating Officer.
2. McNabb will lead global operations including supply chain, manufacturing and logistics.
3. General Mills posted a 3% drop in organic sales last quarter and has cut prices to attract consumers.
4. Jonathan Ness was named Chief Supply Chain Officer in March to oversee manufacturing and logistics.
5. The company is digitizing operations and closed three Missouri plants as part of network optimization.
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