General Mills is putting an eye on growth with its latest executive appointment.
The cereal giant tapped Asheesh Sakena as its chief strategy and growth officer. In the role, Sakena will be responsible for the company’s long-term growth plans and acceleration strategies, according to the press release.
Prior to joining General Mills, Saksena held executive positions at several major companies, including Best Buy, Cox Communications and Time Warner Cable. Most recently, he served as chief growth officer for Gap Inc., where he oversaw the clothing company’s portfolio diversification.
In a statement, CEO Jeff Harmening said Saksena has spurred growth across several industries.
“As we continue to boldly build our brands, relentlessly innovate and revamp our portfolio for today’s families, I am confident Asheesh will be instrumental in helping build consumer love for our iconic core brands,” Harmening said.
Saksena will begin his tenure with the position on Aug. 26, reporting to Harmening. He is replacing Dana McNabb, who previously held the position before her appointment to group president for North American retail at the company.
General Mills, which saw net sales of $20 billion in its last fiscal year, is working to expand its portfolio and find new avenues for revenue growth as its staple category, cereal, faces long-term sales decline. In its most recent earnings report in June, the company said its net sales decreased 6% in its last quarter, falling to $4.7 billion.
On its most recent earnings call, Harmening emphasized its innovation push with its household name brands, pointing to the development of new products like Cheerios Veggie Blends, Nature Valley savory bars and Mott’s snack bars, which debuted last year.
In recent years, the company furthered its push into the pet food category following its $8 billion purchase of Blue Buffalo in 2018. At the end of 2023, it promoted company veteran Jon Nudi to lead its pet food division.
