New CEO Named By General Mills

General Mills has named a 23-year company veteran to take over the helm from CEO Ken Powell, who will stay on as chairman until his impending retirement. Jeffrey L. Harmening, 50, will be the new CEO effective June 1. Harmening most recently headed up the U.S. retail business of General Mills, which expanded its position in the natural and organic segment, including the acquisition of Annie's and EPIC Provisions. The company is now the fourth largest maker of natural and organic foods in the U.S. Harmening also served as president of the company's U.S. cereal business and CEO of Cereal Partners Worldwide (CPW), a joint venture with Nestlé. Powell began his tenure as CEO in 2007. [Image Credit: © General Mills ]