General Mills elects COO Dana McNabb CEO effective Jan. 1, 2027; Harmening becomes Executive Chair

GENERAL MILLS INC

Board unanimously elected Dana McNabb, currently Chief Operating Officer, as CEO effective January 1, 2027, succeeding Jeffrey L. Harmening, who retires as CEO and remains Executive Chair.
McNabb, age 50, joined General Mills in 1999 and has been COO since June 2026 and a board member since June 2026; previously Group President, North America Retail and North America Pet.
McNabb's CEO pay: base salary $1,350,000, annual cash incentive target 180% of salary, plus incremental long-term incentive target of $2,100,000 (50% PSUs, 25% RSUs, 25% stock options).
Harmening's Executive Chair pay effective January 1, 2027: base salary reduced to $1,100,000 and annual cash incentive target cut to 125% of salary.
Lead Director Maria Henry cited a multi-year succession process and over $17 billion returned to shareholders under Harmening; McNabb said returning the company to profitable growth is the priority.

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