General Mills names chief executive officer as chairman
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.
Dr Pepper set to split from Cadbury Schweppes
PLANO, Texas Dr Pepper plans on declaring independence from its parent company, Cadbury Schweppes, once a buy-back is cemented next week. A new company called Dr Pepper Snapple, which has been in planning stages since March of last year, is slated to emerge from the split.
“By having the core research and development capability at our headquarters, we expect to be able to move more rapidly and reliably from prototype to full commercialization,” the company said in a statement filed Monday with the Securities and Exchange Commission.
Company spokesman, Greg Artkop, said that a research facility is currently being built in Plano and should be in operation by this summer.
As soon as the separation is completed, Dr Pepper Snapple will control business for 7UP, Motts juices, Snapple, Sunkist orange and Dr Pepper in Canadian, Caribbean, Mexican and U.S. markets.
Purple names new national accounts manager
FORT LAUDERDALE, Fla. Purple Beverage Co. today announced that Lou Aceto, former North American national accounts manager for Red Bull, will join the team at Purple as national accounts manager. Aceto will also handle national distribution for Purple, the company said.
At Red Bull, Aceto was responsible for getting the product to convenience stores, drug stores, grocery chains and other retailers around New England and in New York.
Purple founder and chief executive officer, Ted Farnsworth said, “With experience and relationships from individual markets to large retail chains, [Acetoa] will be an invaluable asset to our growing company. His knowledge and expertise expand beyond building strategic relationships, planning and exceeding sales targets to earning customer satisfaction through effective client management and driving successful negotiations.”
Aceto also served at Quaker Oats Co. as key accounts manager, implementing call strategies inside chain and distributor groups. Prior to his work at Quaker, and then Red Bull, he served as an independent distributor for Tropicana Products.