MINNEAPOLIS — General Mills, Inc. is restructuring its business structure to capitalize on opportunities around digital, data and technology, and e-commerce, according to the company. While the exact details of the restructuring have not been publicly announced, it may entail the elimination of staff and the sale of properties.
“To be clear, this is not simply a cost-cutting exercise,” said Jeffrey L. Harmening, chairman and chief executive officer, on May 20 during a virtual presentation at the BMO Capital Markets Farm to Markets Conference. “The goal of this initiative is to free up resources from parts of our organization and redeploy them into more growth-facing areas, such as digital and data and technology, e-commerce and strategic revenue management and other capabilities that are critical to our future success.”
During the presentation Mr. Harmening announced several changes to General Mills’ leadership team….