General Mills: Vice Chairman and CFO to Retire

Minneapolis / MN. (gm) General Mills Inc. reports that Vice Chairman and Chief Financial Officer Jim Lawrence has announced plans to retire from the company and has accepted a senior-level position with another major international firm. Don Mulligan has been elected executive vice president and chief financial officer of General Mills, effective August 01.

Lawrence joined General Mills in 1998 as executive vice president and chief financial officer. He was elected vice chairman of General Mills in May 2006. «Jim has made important strategic contributions to General Mills and enhanced the excellence of our financial organization», says Chairman and Chief Executive Officer Steve Sanger.

Mulligan joined General Mills from the Pillsbury Company in 2001. He served as vice president, Financial Operations for the International division until 2004, when he was named vice president, Financial Operations for Operations and Technology. He was appointed vice president and treasurer in January 2006, and was elected senior vice president, Financial Operations earlier this year.

Ken Thome, who since 1993 has served as General Mills senior vice president, Financial Operations, has agreed to postpone his retirement planned for August 01 and will serve as senior vice president, deputy chief financial officer for the next twelve months.

General Mills, with annual net sales of 13.4 billion USD, is a leading global manufacturer and marketer of consumer foods products. Its global brand portfolio includes Big G cereals, Betty Crocker, Pillsbury, Green Giant, Häagen-Dazs, Nature Valley, Old El Paso and more. It has more than 100 U.S. consumer brands, more than 30 of which generate annual retail sales in excess of 100 million USD. General Mills also is a leading supplier of baking and other food products to the foodservice and commercial baking industries.