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MINNEAPOLIS - General Mills Inc. (NYSE:GIS), a consumer staples giant with a market capitalization of $32.5 billion, disclosed in a regulatory filing on Monday that board member C. Kim Goodwin will not seek reelection at the upcoming Annual Meeting of Shareholders scheduled for September 2025. Goodwin, who has served on the company’s board, will continue her duties until the end of her current term. According to InvestingPro data, the company maintains a "GOOD" financial health score, suggesting strong corporate governance practices.
The announcement, contained in an 8-K filing with the U.S. Securities and Exchange Commission, did not specify a reason for Goodwin’s decision. Her departure will prompt the food giant to consider a new candidate to fill the impending vacancy on the board.
General Mills, known for its range of grain mill products and headquartered in Minneapolis, Minnesota, operates under the ticker symbol GIS on the New York Stock Exchange. In addition to its common stock, the company has several notes listed, with maturity dates ranging from 2025 to 2034.
The filing also included standard exhibits, such as the cover page interactive data file, as part of the company’s compliance with SEC requirements. General Mills’ General Counsel and Secretary, Karen Wilson Thissen, signed off on the filing dated February 4, 2025.
This development comes as part of the routine corporate governance and board management processes for public companies. Shareholders and potential investors typically monitor such changes for insights into board dynamics and company leadership.
The information provided in this article is based on the company’s recent SEC filing.
In other recent news, General Mills has finalized the sale of its Canadian yogurt operations, including the Yoplait and Liberté brands, to Sodiaal. This transaction is part of a series of strategic moves by General Mills. The company now projects its adjusted diluted earnings per share (EPS) to decrease between 4 percent and 2 percent due to increased interest expenses from the acquisition of North American Whitebridge Pet Brands. Despite this, General Mills maintains its fiscal 2025 expectations for organic net sales growth.
Stifel has adjusted its EPS forecast for General Mills to $4.44, indicating a 2% decline for the year, while maintaining a Buy rating. Bernstein SocGen Group revised its price target for General Mills shares to $68, maintaining a Market Perform rating. Mizuho (NYSE:MFG) maintained its Neutral stance on General Mills, sustaining a $72.00 price target for the company’s shares, despite adjusting its earnings projections downward for fiscal years 2025 and 2026. Lastly, Citi analyst Thomas Palmer revised the price target on shares of General Mills to $67, while maintaining a Neutral rating. These are recent developments for General Mills.
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