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Home>Kellogg's CEO Ends 7-Year Tenure -- WSJ

Kellogg's CEO Ends 7-Year Tenure -- WSJ

Kellogg's CEO Ends 7-Year Tenure -- WSJ

09/29/2017

John Bryant hands over job of reviving growth amid slump in U.S. cereal sales

 By Annie Gasparro and Joann S. Lublin 

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (September 29, 2017).

Kellogg Co. chose an outsider as its new chief executive, becoming the fifth major food and beverage company to name a new leader in a tumultuous year for the industry.

Steven Cahillane, the 52-year-old CEO of health-and-wellness company Nature's Bounty Co. and a former Coca-Cola Co. executive, will succeed Kellogg CEO John Bryant next week.

Mr. Bryant said Mr. Cahillane's experience running a company that sells natural and organic supplements will help Kellogg expand its own health-conscious product offerings.

"Steve can hit the ground running on Monday," Mr. Bryant, 51, said in an interview. Kellogg wouldn't make Mr. Cahillane available for an interview.

Mr. Cahillane emerged as a strong contender early in Kellogg's monthslong search for a new CEO, said a person familiar with the company. Mr. Bryant wouldn't say when directors began looking for his successor. But he said Kellogg has worked on succession plans with executive search firm Spencer Stuart for years. Some Kellogg executives passed over in favor of Mr. Cahillane were offered retention packages, Mr. Bryant said.

Kellogg board members hope Mr. Cahillane can quickly reignite sales growth, the person familiar with the company said. "The biggest challenge, obviously, is accelerating growth again on the top line," because Kellogg already has cut costs and made significant acquisitions, the person said.

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