Every material Form 8-K General Mills has filed with the SEC since March 05, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
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.
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.
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
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.
General Mills said on May 4, 2026 that director Steve Odland, who has served more than twenty years, will not stand for reelection at the company's September 2026 annual meeting of shareholders. He will remain on the board for the rest of his current term.
Steve Odland informed the company on May 4, 2026 that he will not seek reelection to the Board of Directors.
The decision takes effect at the 2026 Annual Meeting of Shareholders in September.
Odland will continue to serve as a director through the remainder of his current term.
General Mills reported fiscal 2026 third-quarter results on March 18, 2026, with net sales of $4.4 billion, down 8%, and diluted EPS of $0.56, down 50%. The company reaffirmed its full-year fiscal 2026 targets, which include adjusted operating profit and adjusted diluted EPS both expected to be down 16 to 20 percent in constant currency. For shareholders, the quarter shows steep declines in sales and earnings, while the unchanged outlook signals that management still expects a fourth-quarter improvement.
Third-quarter net sales were $4.4 billion, down 8%, with organic net sales down 3%.
Diluted EPS was $0.56, down 50%; adjusted diluted EPS was $0.64, down 37% in constant currency.
Operating profit was $525 million, down 41%; nine-month operating profit rose 6% to $3.0 billion, driven by a $1.0 billion gain on divestitures.
Full-year fiscal 2026 organic net sales are expected to be down 1.5 to 2 percent.
General Mills appointed Joan Bottarini, Executive Vice President and Chief Financial Officer of Hyatt Hotels Corporation, to its board of directors effective January 26, 2026, bringing the board to twelve directors. On the same date, the board amended and restated the company's bylaws, revising director nomination and shareholder proposal procedures and the majority voting provision. The changes affect how shareholders can nominate directors and submit proposals for annual meetings.
Joan Bottarini was appointed effective January 26, 2026, and the board determined she is independent under NYSE standards.
Bottarini joined the Audit and Compensation and Talent Committees; the board now has twelve directors.
Bylaws were amended to revise director nomination and shareholder proposal procedures and to clarify when an election is deemed contested.
The board declared a quarterly dividend of $0.61 per share, payable May 1, 2026, to holders of record as of April 10, 2026.
General Mills reported fiscal 2026 second-quarter results for the quarter ended November 23, 2025, with net sales of $4.9 billion, down 7%, and diluted EPS of $0.78, down 45%. The company cited investments in its brands, the North American yogurt divestitures and an unfavorable trade expense timing comparison, and it reaffirmed its full-year fiscal 2026 targets, which call for adjusted operating profit and adjusted diluted EPS both to be down 10 to 15% in constant currency. For shareholders, the quarter shows a sharp drop in sales and profit, but the full-year targets were held rather than cut.
Second-quarter net sales were $4.9 billion, down 7%; organic net sales were down 1%.
Diluted EPS was $0.78, down 45%; adjusted diluted EPS was $1.10, down 21% in constant currency.
Operating profit was $728 million, down 32%, with restructuring, transformation, impairment and other exit costs of $122 million versus $1 million a year ago.
Full-year fiscal 2026 targets were reaffirmed, including adjusted operating profit and adjusted diluted EPS both expected down 10 to 15% in constant currency.
General Mills said it approved a multi-year supply chain initiative that includes closing its St. Charles, Missouri pizza crust plant and two Joplin, Missouri pet food plants acquired in the Whitebridge Pet Brands deal. The company expects about $82 million in restructuring charges, of which about $17 million will be cash, with actions completed by the end of fiscal 2029. The charges will reduce reported profit in the coming quarters and the company warned that actual results may differ.
Expected restructuring charges total about $82 million, including about $64 million of asset write-offs and $18 million of other costs such as severance
About $17 million of the total is expected to be cash
About $43 million of write-offs and $6 million of other costs are expected in the second quarter of fiscal 2026
Actions are expected to be completed by the end of fiscal 2029
General Mills reported fiscal first-quarter 2026 results for the period ended August 24, 2025. Net sales fell 7% to $4.5 billion, while reported operating profit and diluted EPS more than doubled, mainly because of a $1.05 billion gain on the sale of its U.S. yogurt business. Adjusted diluted EPS fell 20% in constant currency, and the company reaffirmed its full-year fiscal 2026 targets, which call for adjusted operating profit and adjusted EPS to both decline 10 to 15 percent in constant currency.
Net sales were $4.5 billion, down 7%; organic net sales were down 3%.
Operating profit was $1.7 billion, up 108%, including the $1.05 billion divestiture gain; adjusted operating profit was $711 million, down 18% in constant currency.
Diluted EPS was $2.22, up 116%; adjusted diluted EPS was $0.86, down 20% in constant currency.
Fiscal 2026 targets were reaffirmed: adjusted operating profit and adjusted diluted EPS are both expected to be down 10 to 15 percent in constant currency.
General Mills reported fiscal 2025 fourth-quarter net sales of $4.6 billion, down 3 percent, and diluted EPS of $0.53, down 46 percent. For the full year, net sales were $19.5 billion, down 2 percent, and diluted EPS was $4.10, down 5 percent. The company expects fiscal 2026 adjusted diluted EPS to fall 10 to 15 percent in constant currency, as it increases spending on consumer value and brand investment.
Q4 net sales of $4.6 billion, down 3 percent; diluted EPS of $0.53, down 46 percent
Full-year net sales of $19.5 billion, down 2 percent; diluted EPS of $4.10, down 5 percent
Fiscal 2026 adjusted diluted EPS expected to be down 10 to 15 percent in constant currency from $4.21
Quarterly dividend raised 2 percent to $0.61 per share, payable August 1, 2025
General Mills approved a multi-year global transformation initiative on May 20, 2025, aimed at raising productivity through end-to-end process changes and targeted organizational actions. The company expects total charges of about $130 million through fiscal 2028, of which about $120 million will be cash, with about $70 million recorded in the fourth quarter of fiscal 2025, mainly for severance.
Total anticipated charges of approximately $130 million, of which approximately $120 million is cash
About $70 million expected to be recorded in the fourth quarter of fiscal 2025, primarily severance
Actions expected to be substantially completed by the end of fiscal 2028
Company says actual costs and timing may differ and additional charges are possible
General Mills said Dana McNabb will be promoted to Group President, North America Retail and North America Pet, effective June 1, 2025. The change adds oversight of the Pet segment, which the company calls a key growth area, to her existing responsibility for North America Retail, the company's largest business segment.
Effective date: June 1, 2025
North America Pet is added to McNabb's existing North America Retail responsibilities
Liz Mascolo, Segment President, North America Pet, will report to McNabb
General Mills reported fiscal 2025 third-quarter results for the quarter ended February 23, 2025, with net sales down 5% to $4.8 billion and diluted EPS down 4% to $1.12. It also lowered its full-year fiscal 2025 outlook, now expecting organic net sales down 2% to down 1.5% and adjusted operating profit and adjusted diluted EPS down 8% to down 7% in constant currency. For shareholders, this points to weaker sales and profit than the company previously expected, which it attributed to retailer inventory reductions and a slowdown in snacking categories.
Third-quarter net sales were $4.8 billion, down 5%; organic net sales were also down 5%, including about 4 points of retailer inventory reductions and the expected reversal of certain second-quarter timing items.
Diluted EPS was $1.12, down 4%; adjusted diluted EPS was $1.00, down 15% in constant currency.
Full-year fiscal 2025 adjusted operating profit and adjusted diluted EPS are now expected to be down 8% to down 7% in constant currency, compared with the previous down 4% to down 2%.
Holistic Margin Management is expected to deliver at least 5% cost of goods sold savings in fiscal 2026, about $600 million, and new cost-savings initiatives target at least $100 million.
General Mills said Jonathan (Jon) Nudi, Group President for North America Pet, International, and North America Foodservice, will retire effective June 30, 2025, after more than three decades with the company. Liz Mascolo, currently President for North America Blue Buffalo, will be promoted to Segment President, North America Pet and join the Senior Leadership Team effective March 16, 2025. The filing does not report any financial figures related to the change.
Jon Nudi retires effective June 30, 2025; he joined General Mills in 1993.
Liz Mascolo promoted to Segment President, North America Pet, effective March 16, 2025.
Mascolo has 22 years of experience across General Mills brands, per the press release.
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