Recent Updates — GIS

General Mills announced that its Board elected Dana M. McNabb as Chief Executive Officer, effective January 1, 2027, succeeding Jeffrey L. Harmening who is retiring from the CEO role but will remain Executive Chair of the Board. McNabb, currently Chief Operating Officer and a board member since June 2026, has held various senior leadership positions at the company since joining in 1999. The Board approved adjusted compensation for McNabb including a $1,350,000 base salary, an annual cash incentive target of 180% of base salary, and an incremental long-term incentive award of $2,100,000. Harmening’s compensation as Executive Chair will include a $1,100,000 base salary and a cash incentive target of 125% of base salary. General Mills is a global food manufacturing company that produces and markets branded consumer foods.

General Mills reported first-quarter fiscal 2027 results ending August 30, 2026, with net sales of $4.4 billion, a 3 percent decline driven by the U.S. yogurt divestiture, while organic net sales remained flat. Diluted earnings per share fell 67 percent to $0.74, and adjusted diluted EPS decreased 13 percent in constant currency to $0.75. The company reaffirmed its full-year fiscal 2027 outlook, targeting organic net sales between a 1.5 percent decline and a 0.5 percent increase, adjusted operating profit down 8 to 13 percent in constant currency, and adjusted diluted EPS of $3.00 to $3.20. General Mills operates in the consumer packaged goods industry, manufacturing and marketing branded food products globally.

General Mills, Inc. issued a press release on July 1, 2026, reporting its financial results for the quarter and fiscal year ended May 31, 2026. The filing serves to disclose the company's operational and financial performance for the period. General Mills, Inc. is a consumer foods company that manufactures and markets various branded food and cereal products.

General Mills, Inc. appointed Dana M. McNabb as Chief Operating Officer and to its Board effective June 1, 2026, with a $1,000,000 base salary and a $4,000,000 target long-term incentive. Additionally, the company approved one-time restricted stock unit awards for CFO Kofi A. Bruce of $3,500,000 and Chief Digital and Technology Officer Jaime Montemayor of $2,500,000.

Steve Odland has decided not to stand for reelection to the General Mills Board of Directors at the company's 2026 Annual Meeting of Shareholders in September. Following more than twenty years of service, Mr. Odland will continue to serve as a director through the remainder of his current term.

General Mills, Inc. has agreed to issue €1 billion of 4.750% Series A fixed-to-fixed reset rate junior subordinated notes due 2056 and €700 million of 5.250% Series B fixed-to-fixed reset rate junior subordinated notes due 2056. The sale of these notes is expected to close on April 16, 2026.