Kellogg taps company veteran to head cereal business spinoff
2022.08.24 18:41
FILE PHOTO: Kellogg’s Corn Flakes, owned by the Kellogg Company, is seen for sale at a store in Queens, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo
(Reuters) – Kellogg (NYSE:K) Co on Wednesday named Gary Pilnick, a 22-year veteran of the company and current chief legal officer, as the designated head of its North America Cereal business, which it plans to spin off next year.
Kellogg said in June it would split into three independent companies, separating its North America cereal arm and plant-based food unit from its high growth snacking business.
Pilnick is now tasked with ensuring a smooth spin off of brands such as Frosted Flakes and Froot Loops at a time when rampant inflation threatens to push more Americans toward cheaper store-brand cereals.
A key executive in a number of Kellogg’s strategic initiatives over the years, Pilnick spearheaded the acquisition of potato chips maker Pringles from Procter & Gamble (NYSE:PG) Co and the company’s expansion into Africa.
Kellogg also announced Dave McKinstray, who has previously served in multiple executive finance roles, as finance chief of the new cereal company.
It named insiders Sherry Brice-Williamson and Doug VanDeVelde as the new firm’s Chief Supply Chain Officer and Chief Growth Officer, respectively.
