Healthy cereals boost sales for General Mills
WASHINGTON General Mills has gone through long obstacles to achieve its success in tapping into the healthy food market, and using incentives toward is employees in order to do so. Since then, General Mills made a reported $12.4 billion in sales due to its new standard for its products.
General Mills is now known for having cereal brands that are made from whole grains, are high in fiber and contain vitamins and minerals. According to published reports, they raised their profit for the year due to its increase in health standards for its products. Although, to achieve success, the company had to involve itself in a gradual change that increased health ingredients in many of their products.
The move to begin incorporating healthful ingredients as a factor in the production process is due to reports that consumers were more likely to purchase foods with the Food and Drug Administration’s seal of approval. In order to meet goals, which started off as having only 20 percent of its products that met nutritional standards, General Mills decided to link employee bonuses to meeting the health targets it requires.
According to published reports, many other companies are following along with the health trends, due mostly to pressure from regulator and consumer advocates. Such companies as Kellogg Co. and Kraft Foods removed trans fats from the majority of their products, and Campbell soup sold the Godiva chocolate business in order to focus more on their low-sodium soups and new versions of V-8 juice.
With a combination of the importance of health in the new age and incentives given to company members to reach health targets, General Mills has 34 percent of its products meeting the new health standards. According to published reports, not only has it reformulated 200 products, but it has also introduced 100 new ones.
Hershey’s new center creates jobs in Utah
OGDEN, Utah The Hershey Co. has decided to build a distribution center in Ogden, Utah, creating about 125 full time-jobs.
According to published reports, Hershey is said to have earned $5 billion in revenue last year and employs a total of 13,000 people worldwide.
Hershey was given a financial incentive from Utah of about $2.6 million, and the company plans to invest about $39 million in the center. Construction is set to start in the spring.
Muhtar Kent nominated as president of Coca-Cola Co. board of directors
ATLANTA The Coca-Cola Co. board of directors has announced Muhtar Kent as their nominee as Director of the company for election at the Annual Meeting of Shareowners in April 2008.
Kent, who is president and chief operating officer of Coca-Cola, will also accept his post as chief executive officer of the company on July 1, 2008. He has been working for the Coca-Cola Co. since 1978, and held the position of president of the East Central European division from 1989 to 1995.
In May of 1995, Kent was named president of the North Asia, Eurasia and Middle East Group. His role as president and chief operating officer of Coca-Cola International in December 2006 led to his newly appointed post for the year 2008.
“It is a logical and natural step for Muhtar to be nominated to the Board of Directors at this time as part of our orderly transition to new leadership that we announced in December,” said chairman and chief executive officer Neville Isdell of Kent’s nomination. “It will give Muhtar several months to acclimate himself with his new duties as director in advance of becoming chief executive officer in July. The entire board looks forward to working with Muhtar as both a director and our new chief executive officer.”