General Mills Management

Management criteria checks 3/4

General Mills' CEO is Jeff Harmening, appointed in Jun 2017, has a tenure of 7.25 years. total yearly compensation is $16.06M, comprised of 8.3% salary and 91.7% bonuses, including company stock and options. directly owns 0.057% of the company’s shares, worth CHF19.82M. The average tenure of the management team and the board of directors is 4.7 years and 6 years respectively.

Key information

Jeff Harmening

Chief executive officer

US$16.1m

Total compensation

CEO salary percentage	8.3%
CEO tenure	7.3yrs
CEO ownership	0.06%
Management average tenure	4.7yrs
Board average tenure	6yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Jeff Harmening's remuneration changed compared to General Mills's earnings?
Date	Total Compensation	Salary	Company Earnings
Aug 25 2024	n/a	n/a	US$2b
May 26 2024	US$16m	US$1m	US$2b
Feb 25 2024	n/a	n/a	US$3b
Nov 26 2023	n/a	n/a	US$2b
Aug 27 2023	n/a	n/a	US$2b
May 28 2023	US$16m	US$1m	US$3b
Feb 26 2023	n/a	n/a	US$3b
Nov 27 2022	n/a	n/a	US$3b
Aug 28 2022	n/a	n/a	US$3b
May 29 2022	US$12m	US$1m	US$3b
Feb 27 2022	n/a	n/a	US$2b
Nov 28 2021	n/a	n/a	US$2b
Aug 29 2021	n/a	n/a	US$2b
May 30 2021	n/a	n/a	US$2b
Feb 28 2021	n/a	n/a	US$3b
Nov 29 2020	n/a	n/a	US$2b
Aug 30 2020	n/a	n/a	US$2b
May 31 2020	US$16m	US$1m	US$2b
Feb 23 2020	n/a	n/a	US$2b
Nov 24 2019	n/a	n/a	US$2b
Aug 25 2019	n/a	n/a	US$2b
May 26 2019	US$10m	US$1m	US$2b
Feb 24 2019	n/a	n/a	US$2b
Nov 25 2018	n/a	n/a	US$2b
Aug 26 2018	n/a	n/a	US$2b
May 27 2018	US$8m	US$1m	US$2b

Compensation vs Market: Jeff's total compensation ($USD16.06M) is above average for companies of similar size in the Swiss market ($USD4.73M).

Compensation vs Earnings: Jeff's compensation has been consistent with company performance over the past year.

CEO

Jeff Harmening (57 yo)

7.3yrs

Tenure

US$16,056,114

Compensation

Mr. Jeffrey L. Harmening, also known as Jeff, has been the Chief Executive Officer at General Mills, Inc. since June 1, 2017. Mr. Harmening served as the President of General Mills, Inc. since July 1, 2016...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Jeffrey Harmening	Chairman & CEO	7.3yrs	US$16.06m	0.057% $ 19.8m
Kofi Bruce	CFO and Interim Chief Strategy & Growth Officer	4.6yrs	US$4.62m	0.012% $ 4.3m
Karen Thissen	General Counsel & Corporate Secretary	2.3yrs	US$2.95m	0.00015% $ 52.1k
Jonathon Nudi	Group President of Pet & International and North America Foodservice (NAF)	7.7yrs	US$5.19m	0.0076% $ 2.6m
Dana McNabb	Group President of North America Retail	4.7yrs	US$3.17m	0.0039% $ 1.4m
Jaime Montemayor	Chief Digital & Technology Officer	4.6yrs	US$3.26m	0.0086% $ 3.0m
Mark Pallot	VP & Chief Accounting Officer	4.6yrs	no data	0.0037% $ 1.3m
Lanette Werner	Chief Innovation	1.3yrs	no data	0.0042% $ 1.5m
Jeff Siemon	Vice President of Investor Relations & Treasurer	no data	no data	no data
Jano Cabrera	Chief Communications Officer	5.1yrs	no data	no data
Jacqueline Williams-Roll	Chief Human Resources Officer	10yrs	no data	0.020% $ 6.9m
Bethany Quam	President of U.S. Morning Foods	7.8yrs	no data	0.010% $ 3.5m

4.7yrs

Average Tenure

53yo

Average Age

Experienced Management: GIS's management team is considered experienced (4.7 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Jeffrey Harmening	Chairman & CEO	7.3yrs	US$16.06m	0.057% $ 19.8m
John Morikis	Independent Director	less than a year	US$232.56k	0.0013% $ 434.3k
Maria Sastre	Independent Director	6.3yrs	US$297.51k	0.00018% $ 62.5k
Stephen Odland	Independent Director	19.9yrs	US$285.01k	0.032% $ 11.1m
Eric Sprunk	Independent Director	8.8yrs	US$302.51k	0.00050% $ 173.7k
Diane Neal	Independent Director	5.8yrs	US$277.51k	0.00050% $ 173.7k
Maria Henry	Independent Lead Director	8.3yrs	US$310.01k	0.0075% $ 2.6m
Elizabeth Lempres	Independent Director	5.3yrs	US$307.51k	0.0032% $ 1.1m
C. Goodwin	Independent Director	2.3yrs	US$277.51k	0.0024% $ 820.0k
Jorge Alberto Uribe Lopez	Independent Director	8.3yrs	US$292.51k	0.0057% $ 2.0m
Benno Dorer	Independent Director	less than a year	US$232.56k	0.000010% $ 3.5k
Jo Jenkins	Independent Director	4.7yrs	US$277.51k	0.0026% $ 913.8k

6.0yrs

Average Tenure

64.5yo

Average Age

Experienced Board: GIS's board of directors are considered experienced (6 years average tenure).

General Mills Management

Management criteria checks 3/4

Key information

Recent management updates

General Mills, Inc., Annual General Meeting, Sep 24, 2024

General Mills Appoints Asheesh Saksena as Chief Strategy & Growth Officer, Effective August 26, 2024

General Mills Announces Retirement of Shawn O’Grady, Group President

General Mills Announces Changes to Senior Leadership Team

General Mills, Inc., Annual General Meeting, Sep 26, 2023

General Mills, Inc., Annual General Meeting, Sep 26, 2023

Recent updates

General Mills, Inc. Reaffirms Earnings Guidance for the Full Fiscal Year 2025

General Mills, Inc. to Report Q1, 2025 Results on Sep 18, 2024

General Mills, Inc., Annual General Meeting, Sep 24, 2024

General Mills Appoints Asheesh Saksena as Chief Strategy & Growth Officer, Effective August 26, 2024

Fourth quarter dividend of US$0.60 announced

Full year 2024 earnings released: EPS: US$4.34 (vs US$4.36 in FY 2023)

General Mills, Inc. Declares Quarterly Dividend, Payable on August 1, 2024

General Mills, Inc. to Report Q4, 2024 Results on Jun 26, 2024

General Mills, Inc. (NYSE:GIS) acquired Edgard & Cooper Foundation.

General Mills Reportedly Explores Sale of North America Yogurt Business

General Mills, Inc. Announces Wheaties Debut Highest Protein Offering in Cereal Category, Wheaties Protein

Upcoming dividend of US$0.59 per share

New minor risk - Insider selling

Third quarter 2024 earnings released: EPS: US$1.18 (vs US$0.93 in 3Q 2023)

General Mills, Inc. to Report Q3, 2024 Results on Mar 20, 2024

General Mills, Inc. Reaffirms Sales Guidance for the Fiscal Year 2024

General Mills Announces Retirement of Shawn O’Grady, Group President

Dividend of US$0.59 announced

General Mills, Inc. Declares A Quarterly Dividend, Payable May 1, 2024

Upcoming dividend of US$0.59 per share at 3.6% yield

Second quarter 2024 earnings released: EPS: US$1.03 (vs US$1.02 in 2Q 2023)

General Mills, Inc. Revises Earnings Guidance for the Fiscal Year 2024

General Mills Announces Changes to Senior Leadership Team

General Mills, Inc. to Report Q2, 2024 Results on Dec 20, 2023

General Mills Declares Quarterly Dividend, Payable on February 1, 2024

General Mills, Inc. (NYSE:GIS) acquired Fera Pets, Inc.

General Mills Declares Quarterly Dividend, Payable on November 1, 2023

First quarter 2024 earnings released: EPS: US$1.15 (vs US$1.37 in 1Q 2023)

General Mills, Inc. Reaffirms Revenue Guidance for the Full Fiscal Year 2024

General Mills, Inc. to Report Q1, 2024 Results on Sep 20, 2023

General Mills, Inc., Annual General Meeting, Sep 26, 2023

General Mills, Inc., Annual General Meeting, Sep 26, 2023

Full year 2023 earnings released: EPS: US$4.36 (vs US$4.46 in FY 2022)

General Mills Announces Häagen-Dazs Brings Luxury to Yogurt Aisle with Debut of Cultured Crème

General Mills, Inc. to Report Q4, 2023 Results on Jun 28, 2023

Chief Innovation recently sold CHF245k worth of stock

David M. Cordani Announces Not Stand for Reelection to the Board of General Mills, Inc

Ggeneral Mills, Inc. Announces Executive Changes

Insider recently sold CHF692k worth of stock

Upcoming dividend of US$0.54 per share at 2.5% yield

Third quarter 2023 earnings released

Insufficient new directors

General Mills, Inc. Declares Quarterly Dividend, Payable on May 1, 2023

Upcoming dividend of US$0.54 per share

General Mills, Inc. Raises Earnings Guidance for the Fiscal Year 2023

Second quarter 2023 earnings released: EPS: US$1.01 (vs US$0.98 in 2Q 2022)

General Mills, Inc. to Report Q2, 2023 Results on Dec 20, 2022

Independent Director recently sold CHF1.9m worth of stock

General Mills Board of Directors Declares Quarterly Dividend, Payable February 1, 2023

Group President of North America Retail recently sold CHF2.0m worth of stock

The General Mills Board of Directors Declares Quarterly Dividend, Payable November 1, 2022

Insider recently sold CHF1.2m worth of stock

General Mills, Inc. Provides Earnings Guidance for Year 2023

General Mills, Inc. to Report Q1, 2023 Results on Sep 21, 2022

Insider recently sold CHF1.1m worth of stock

General Mills, Inc., Annual General Meeting, Sep 27, 2022

Insider recently sold CHF401k worth of stock

Eagle Family Foods Group LLC acquired Helper Main Meals and Suddenly Salad Side Dishes Businesses from General Mills, Inc. (NYSE:GIS) for a transaction value of approximately $610 million.

Full year 2022 earnings released

General Mills, Inc. Provides Earnings Guidance for the Full Fiscal Year 2023

General Mills Elects C. Kim Goodwin to Board of Directors

General Mills, Inc. (NYSE:GIS) acquired TNT Crust, Inc. from Peak Rock Capital LLC.

General Mills, Inc. to Report Q4, 2022 Results on Jun 29, 2022

Eagle Family Foods Group LLC entered into a definitive agreement to acquire Helper Main Meals and Suddenly Salad Side Dishes Businesses from General Mills, Inc. (NYSE:GIS) for a transaction value of approximately $610 million.

General Mills Appoints Karen Wilson Thissen as General Counsel and Corporate Secretary, Effective June 6

General Mills, Inc. (NYSE:GIS) entered into an agreement to acquire TNT Crust, Inc. from Peak Rock Capital LLC.

General Mills, Inc. (NYSE:GIS) entered into an agreement to acquire TNT Crust, Inc. from Peak Rock Capital LLC.

Upcoming dividend of US$0.51 per share

General Mills, Inc. to Report Q3, 2022 Results on Mar 23, 2022