business news in context, analysis with attitude

Steve Sanger, the longtime CEO of General Mills, announced yesterday that he was stepping down from the post, effective immediately. He will be succeeded as CEO by Kendall Powell, the company’s president/COO.

Sanger reportedly will remain as General Mills’ chairman through the end of the company’s fiscal year in May 2008.

The company said that the move was part of a long-term, established succession plan.
KC's View: