General Mills Inc. said Wednesday that the board elected Jeff Hermening chief executive officer of the company, effective June 1. Hermening will also serve on the company's board. He succeeds Ken Powell, who has been CEO since 2007. He will continue as chairman until his retirement, which is expected within the next year. Harmening has been with the company for 23 years, most recently serving as chief operating officer, a title he held since July 1, 2016. General Mills shares are up 0.3% in premarket trading, but down 9.5% for the year to date. The S&P 500 index is up 6.8% for 2017 so far.
Continue Reading Below
Copyright © 2017 MarketWatch, Inc.