General Mills appoints new Group President

Published 19/05/2025, 22:06
General Mills appoints new Group President

MINNEAPOLIS - General Mills Inc. (NYSE: GIS), currently trading near its 52-week low at $54.83, has announced a significant promotion within its executive ranks, slated to take effect on June 1. Dana McNabb, currently serving as Group President, North America Retail (NAR), will expand her leadership to include the North America Pet segment, a division recognized for its growth potential within the company. Liz Mascolo, who is the Segment President for North America Pet, will report to McNabb following this organizational change.

McNabb’s promotion comes as General Mills looks to build on its momentum in the pet food category, an area that Chairman and CEO Jeff Harmening describes as rapidly evolving. According to Harmening, McNabb’s track record of leadership, general management, and brand building aligns with the company’s ambitions to innovate and enhance consumer experiences in the pet segment.

Since joining General Mills, McNabb has held various leadership roles. She was appointed Chief Strategy and Growth Officer in 2021, where she focused on the company’s growth capabilities and strategic portfolio development. McNabb’s tenure as Group President for the Europe & Australia segment saw a return to growth for that division, and she played a pivotal role in achieving U.S. cereal category leadership during her time as President of the U.S. Cereal operating unit.

General Mills, a company with iconic brands such as Cheerios, Nature Valley, and Blue Buffalo, generated fiscal 2024 net sales of $20 billion, with an additional $1 billion in net sales from non-consolidated joint ventures. The company emphasizes its Accelerate strategy, which aims to expand brand presence, innovate, leverage scale, and commit to social responsibility. According to InvestingPro data, the company maintains a strong dividend tradition, having paid dividends for 55 consecutive years, with a current attractive yield of 4.35%.

This promotion is part of General Mills’ ongoing efforts to adapt to market trends and consumer needs, particularly in the pet food industry, where pet owners increasingly seek new products and experiences for their pets. The company’s decision to elevate McNabb to oversee both the NAR and Pet segments is indicative of their strategic focus on integrating and expanding these key areas of their business. With a market capitalization of $30 billion and a P/E ratio of 11.96, InvestingPro analysis suggests the stock is currently undervalued, offering potential opportunities for investors. For deeper insights into General Mills’ valuation and growth prospects, including 8 additional ProTips and comprehensive financial analysis, explore the full Pro Research Report available on InvestingPro.

The information regarding the executive promotion and its anticipated impact on General Mills’ business strategy is based on a press release statement from the company.

In other recent news, General Mills has announced the issuance of €750 million in notes due in 2032, with a 3.600% interest rate, as part of its capital management strategy. This financial move is intended to raise funds for potential corporate purposes such as refinancing existing debt or funding strategic investments. Meanwhile, UBS has initiated coverage on General Mills with a Sell rating and a $54 price target, citing potential challenges in sales and market share losses. The analysts at UBS foresee a difficult sales landscape for fiscal year 2026, projecting an organic growth decline of 0.2%, contrary to the company’s target of 2-3% growth.

Additionally, Jefferies has revised its price target for General Mills to $59 from $62, maintaining a Hold rating. This adjustment reflects concerns over the company’s fiscal third-quarter results and the effectiveness of its promotional strategies. Citi also lowered its price target for General Mills to $56, down from $57, while retaining a Neutral rating, due to anticipated declines in operating profit for fiscal year 2026. Furthermore, the U.S. Food and Drug Administration’s initiative to phase out synthetic dyes from the food supply will impact General Mills, among other companies, as they transition to natural alternatives.

These developments highlight the various pressures and strategic decisions facing General Mills in the current market environment.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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