General Mills said Dana McNabb will take the helm at the start of next year, with current CEO Jeff Harmening - who has led the company since 2017 - set to become executive chair of the board of directors. McNabb is currently the chief operating officer and, at 50, will be the lone woman leading a major packaged-food company.
Her rise has been steady and long running. She joined General Mills in Canada in 1999, served in marketing and the U.S. cereal business, became group president of North American retail in 2024, added responsibility for pet food in 2025, and was elevated to COO earlier this year.
"Returning the company to profitable growth is the priority, and we know how we'll get there," McNabb said. She also described her leadership style as "high accountability, low ego." Harmening praised her approach, saying McNabb "takes complex things and she simplifies them."
General Mills has been under strain as shoppers feel the pinch and smaller rivals pitch healthier fare. After the company rolled back some prices, North American retail sales slipped in the latest quarter. General Mills, the producer of Cheerios and Progresso soups, says it will add more protein and fiber to new products that can carry higher prices, including Honey Nut Cheerios Protein.
McNabb said the path back to growth includes modernizing the supply chain. The company has started collaborating with an external partner to develop a new packaging facility intended to help it reach a broader set of formats. It is also targeting $3 billion of cost savings by fiscal 2030.
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On the marketing front, the company said last week it will use twice as many influencers to widen its reach. Product development is leaning into nutrition that can carry premium pricing, including more protein and fiber in new items like Honey Nut Cheerios Protein.
On Wednesday, General Mills' stock dropped by as much as 3.1%. Through Tuesday, the stock was down 27% this year, compared with a 12% gain for the S&P 500. Industrywide, CEO turnover has been brisk as results soften and consumers ask for healthier options. In about the last year, Hershey, Coca-Cola, Kraft Heinz and Conagra Brands each appointed a new chief executive.
McNabb said shoppers are changing what they buy and where they buy it. "Who and what influences their purchasing decisions is changing at a rate that frankly we haven't seen before," she said. In breakfast, for example, General Mills has responded to the shift toward higher protein by adding protein to Cheerios and introducing high protein granola.
McNabb calls herself a company "lifer." "While I am a lifer, I think that comes with benefits," she said. "I know this company inside and out. I understand this industry and what's changing." She also credits her work ethic to being raised on a grain farm in the Canadian region that produces the most oats for General Mills. "It instills in you an immense discipline and work ethic," she said.
What this means for your money: watch how quickly the company can steady North American sales after price cuts, whether the packaging revamp expands shelf presence, and if the push into higher protein and fiber wins back shoppers. If those ingredients come together, the turnaround story will be easier to follow from your grocery cart to your portfolio.
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