Kellogg Company (NYSE:K) CEO John Bryant is retiring after 20 years with the company.
The Kellogg CEO will be officially retiring from the company on Oct. 2, 2017. Following this, he will remain as the Executive Chairman of the Board of Directors until March 15, 2018.
The next Kellogg CEO has already been chosen by the company’s Board of Directors. They have selected Steven Cahillane to take over the role from John Bryant. Cahillane most recently served as the President and CEO of The Nature’s Bounty Co.
Steven Cahillane will step into the role of Kellogg CEO on Oct. 2 when John Bryant retires. He will also take over as the Executive Chairman of the Board following Bryant’s retirement from that position next year.
“Today, it’s my pleasure on behalf of the Kellogg Board to welcome Steve,” the current Kellogg CEO said in a statement. “I am confident that the strength of Steve’s leadership, combined with the drive and talent of our management team and the passion of our incredible employees, will enable Kellogg to realize our vision and purpose while achieving our long-term growth goals.”
Steven Cahillane will be bringing years of experience with him when he becomes the new Kellogg CEO next month. This includes acting as the CEO of Nature’s Bounty since 2014. Prior to this, he was President of The Coca-Cola Co’s (NYSE:KO) Americas division. Cahillane also held several leadership roles at Anheuser Busch Inbev NV (ADR) (NYSE:BUD) during his eight years with the brewing company.
K stock was down slightly as of noon Thursday and is down 14% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.