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General Mills is eyeing growth with recent executive appointments.
The cereal giant has appointed Asheesh Sakena as chief strategy and growth officer. In this role, Sakena will be responsible for the company’s long-term growth plans and acceleration strategy, according to a press release.
Before joining General Mills, Saksena held executive positions at several large companies, including Best Buy, Cox Communications, and Time Warner Cable. Most recently, he served as chief growth officer at Gap Inc., where he oversaw the diversification of the apparel company’s portfolio.
Saksena has driven growth across multiple industries, CEO Jeff Harmening said in a statement.
“As we boldly build brands for today’s family and continuously innovate and refresh our portfolio, I am confident Asheesh will help build consumer love for our iconic core brands,” said Harmening.
Saksena will begin his tenure in this role on August 26, reporting to Harmening. He replaces Dana McNabb, who held this position prior to being named president of the company’s North American Retail Group.
General Mills, which had $20 billion in net sales last fiscal year, is trying to expand its portfolio and find new ways to grow sales as its mainstay cereal business faces a prolonged sales decline. In its latest earnings report, released in June, the company said net sales fell 6 percent to $4.7 billion in the last quarter.
Harmening emphasized the company's drive to innovate with its household brands during a recent earnings call, citing new product developments such as the Cheerios Vegetable Blend, Nature Valley Savoury Bars and Mott's Snack Bars that were launched last year.
In recent years, the company has expanded further into the pet food sector following its $8 billion acquisition of Blue Buffalo in 2018. In late 2023, it promoted company veteran Jon Nudi to lead the pet food division.
