Kellogg Company (K - Free Report) announced the appointment to Carolyn Tastad – a present executive at The Procter & Gamble Company (PG - Free Report) – to its board of directors.
Tastad presently serves as Group President of P&G’s North America segment and looks after the company’s business in the U.S., Canada and Puerto Rico. Boasting 30-year experience with the consumer giant, her appointment will take effect on Dec 1.
Kellogg also announced the appointment of Noel Wallace to the board, effective Oct 1. Wallace currently serves as President of the Latin America business of Colgate-Palmolive Co. (CL - Free Report) , where he has worked for nearly three decades.
In May this year, Kellogg announced a couple of leadership changes at its North American business.
Paul Norman was appointed as the President of the North America segment. Prior to that, he led Kellogg’s U.S. Morning Foods business on an interim basis. Craig Bahner was appointed the President of the U.S. Morning Foods business.
In this context, we would like to remind investors that Kellogg’s North American business has shown improved sales trends in the first half of 2015 after struggling in 2014. The improvement came on the back of renovation, innovation and brand support funded by savings from the company’s restructuring program, Project K.
In order to improve sales performance, Kellogg has undertaken several brand building initiatives, including digital media, consumer promotions and traditional advertising. It is also investing in in-store capabilities like increasing the sales forces of its struggling U.S. businesses — cereals and snacks. The company has launched campaigns supporting the breakfast occasion to increase awareness about its importance as the first meal of the day.
Kellogg is also making efforts to improve its food offerings. It is channeling funds toward product and packaging innovation as well as reformulation of many existing products to meet the rapidly changing views of consumers regarding health and wellness.
Consumers now prefer food with more nutritional benefits, such as protein, gluten-free choices and simpler ingredients. The company is therefore re-positioning its key brands like Special K and Kashi as healthy lifestyle brands in line with the changing consumer preference from dieting to health and wellness.
Kellogg carries a Zacks Rank #3 (Hold). A better-ranked food stock is Omega Protein Corporation which sports a Zacks Rank #1 (Strong Buy).
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