MINNEAPOLIS General Mills said yesterday that it will appoint Kendall J. Powell to cover the job of chairman. Powell is already chief executive officer of the company.
Powell was voted by the board to take over duties as chairman on May 23, when Stephen Sanger, a 34-year veteran of the company, retires.
Sanger served as chairman and chief executive since he was elected to the seat, about 13 years ago. Powell, 54, joined the company in 1979 and was promoted to chief executive in September 2007.
Wall Street today reported that General Mills shares rose 16 cents to $61.83 during afternoon trading.