General Mills Names First COO as Snack Giant Pushes Portfolio Overhaul

General Mills appoints first-ever COO Dana McNabb, sells Brazil operations to 3corações, and faces Q4 earnings test as stock languishes near $33.58.

The pressure is mounting at General Mills. With the stock trading near its 52-week low and the company set to close out a turbulent fiscal year, management is pulling multiple levers simultaneously — from a historic C-suite appointment to a strategic exit from Brazil.

A New Operating Chief Takes the Helm

Dana McNabb will become the company’s first-ever Chief Operating Officer effective June 1, 2026. The 27-year General Mills veteran steps into a role that consolidates oversight of all business segments, including international operations, North American foodservice, supply chain and digital initiatives. She reports directly to CEO Jeff Harmening and will also join the board of directors.

McNabb previously ran the company’s North American retail and pet food divisions. Her promotion comes with a compensation package that includes a $1 million base salary and $4 million in long-term equity awards.

The board is also locking in other key executives. CFO Kofi Bruce and digital chief Jaime Montemayor received one-time stock grants worth a combined $6 million, vesting over three years. Meanwhile, director Steve Odland will depart in September after more than two decades on the board, following the January appointment of Hyatt CFO Joan Bottarini.

Exiting Brazil to Boost Margins

Alongside the leadership shake-up, General Mills has agreed to sell its entire Brazil operation to local firm 3corações. The deal, expected to close by the end of 2026, includes regional brands such as Yoki and Kitano. The Brazilian business contributed roughly $350 million in revenue last fiscal year.

The divestiture is part of a broader portfolio reshaping that has seen nearly a third of the company’s holdings swapped out since Harmening took over. Management is doubling down on higher-margin categories including premium ice cream, Mexican cuisine and pet food.

Earnings Season Looms

The next few weeks will test whether these moves can reverse the company’s recent trajectory. Analysts project fourth-quarter earnings per share of $0.83, a gain of more than 12% from a year earlier. An extra week in the reporting calendar and market share gains are expected to provide a tailwind.

But the full-year picture remains sobering. Full-year EPS is forecast to fall to $3.44. In the most recent quarter, revenue slipped to $4.4 billion and operating profit plunged 41%, hammered by supply chain disruptions and weak snack sales. On a currency-adjusted basis, adjusted earnings dropped 37%.

The company is fighting back with packaging adjustments and improved shelf availability. Harmening is scheduled to speak at the Rose-Hulman Institute of Technology later this month, but the real message to investors will come when the final annual results are released.

Stock Under Siege

The market has yet to reward the restructuring. Shares hover near their 12-month low of $33.58, far below the year’s peak of roughly $55. The stock is trading below its 200-day moving average. A quarterly dividend of $0.61 per share offers some consolation, but the path to recovery hinges on visible organic sales growth.

If the fourth quarter fails to deliver the promised turnaround, the stock could face further headwinds.