Sep 30, 7:33 AM ET
General Mills' board elected Chief Operating Officer Dana McNabb as chief executive, succeeding Jeffrey Harmening, who is retiring as CEO and will serve as Executive Chair of the board. Both appointments take effect January 1, 2027, and the board also set new pay levels for each executive.
- McNabb's CEO base salary will be $1,350,000, with an annual cash incentive target of 180% of base salary, plus an incremental long-term incentive award of $2,100,000.
- Harmening's base salary as Executive Chair will be reduced to $1,100,000, and his annual cash incentive target will decrease to 125% of base salary.
- McNabb has been Chief Operating Officer since June 2026 and joined General Mills in 1999.
Read the filing on SEC.gov ↗
Sep 23, 7:01 AM ET
General Mills reported first-quarter fiscal 2027 net sales of $4.4 billion, down 3 percent, with organic net sales flat. Diluted EPS of $0.74 fell 67 percent from a year earlier, when results included a $1 billion gain on the U.S. yogurt divestiture; adjusted diluted EPS of $0.75 was down 13 percent in constant currency. The company reaffirmed its full-year fiscal 2027 outlook, including adjusted diluted EPS of $3.00 to $3.20.
- Net sales were $4.4 billion, down 3 percent, driven by the U.S. yogurt divestiture; organic net sales were flat.
- Operating profit was $634 million, down 63 percent, mainly due to the $1 billion yogurt divestiture gain recorded a year ago.
- Diluted EPS was $0.74 versus $2.22 a year ago; adjusted diluted EPS was $0.75, down 13 percent in constant currency.
- Fiscal 2027 guidance reaffirmed: adjusted diluted EPS of $3.00 to $3.20 and organic net sales down 1.5 percent to up 0.5 percent.
Read the filing on SEC.gov ↗
Jul 1, 7:01 AM ET
General Mills reported a fourth-quarter net loss of $2.0 billion, or $3.74 per diluted share, driven by $1.8 billion in non-cash goodwill and brand intangible charges and a $1.0 billion valuation loss tied to the planned Brazil divestiture. Adjusted diluted EPS rose to $0.95 in the quarter, while full-year net sales fell 5% to $18.4 billion and the company guided fiscal 2027 adjusted diluted EPS to $3.00 to $3.20, which would be lower than fiscal 2026's $3.55.
- Q4 net sales rose 1% to $4.6 billion; organic net sales were flat
- Q4 diluted loss per share was $3.74 versus EPS of $0.53 a year earlier; adjusted diluted EPS was $0.95
- Full-year diluted loss per share was $0.16 versus EPS of $4.10; adjusted diluted EPS was $3.55, down 16% in constant currency
- Fiscal 2027 outlook: adjusted diluted EPS of $3.00 to $3.20 and adjusted operating profit down 13% to 8% in constant currency; quarterly dividend of $0.61 per share declared
Read the filing on SEC.gov ↗
May 6, 5:17 PM ET
General Mills' board elected Dana McNabb chief operating officer and a director, both effective June 1, 2026. She will add responsibility for all operating segments and key operating functions to her current North America Retail and Pet roles, and the filing discloses her new pay package and one-time retention awards for the chief financial officer and chief digital and technology officer.
- McNabb's base salary as chief operating officer is $1,000,000, with an annual cash incentive target of 150% of base salary and a target long-term annual incentive award of $4,000,000.
- McNabb will receive no pay for serving on the board.
- CFO Kofi A. Bruce and Chief Digital and Technology Officer Jaime Montemayor were approved for one-time restricted stock unit awards of $3,500,000 and $2,500,000, with grant dates of June 5, 2026.
- McNabb has been Group President, North America Retail since January 2024 and added North America Pet in 2025.
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.