General Mills announced a leadership transition, appointing current Chief Operating Officer (COO) Dana M. McNabb as its new Chief Executive Officer, effective January 1, 2027. She will succeed Jeffrey L. Harmening, who is retiring as CEO and will transition to the role of Executive Chair of the Board.
Key Details
- Effective Date: The leadership and compensation changes will be effective on January 1, 2027.
- New CEO Compensation: As CEO, Ms. McNabb will receive a base salary of $1,350,000, an annual cash incentive target of 180% of base salary, and a $2.1 million long-term incentive award.
- Executive Chair Compensation: In his new role as Executive Chair, Mr. Harmening's base salary will be adjusted to $1,100,000 with an annual incentive target of 125%.