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Sara Lee Appoints Campbell Soup Executive as CEO of North American Retail and Food Services Business (SLE, CPB)

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Sara Lee Corp.Sara Lee Corporation (NYSE: SLE), a Downers Grove, Illinois-based manufacturer and marketer of brand-name products for consumers globally, today announced that it appointment Sean Connolly as CEO of its North American Retail and Foodservice Business effective January 17, 2012.

Connolly will join Sara Lee from Campbell Soup Company (NYSE: CPB) where he currently serves as President of Campbell North America, which is the company’s largest division accounting for nearly $4.6 billion in annual revenue.


Sara Lee said that Connolly will serve as CEO of MeatCo, which is the company’s North American Meats business, following spin off of its International Coffee and Tea business. The spin off is expected to be completed in the second quarter of 2012.

Jan Bennink, Executive Chairman of Sara Lee, said that the company is very excited to have Connolly serve as the head of its MeatCo business as it prepares for it to become a separate pure-play, publicly-held company. Bennink further said that Connolly has extensive experience in the American food industry, coupled with a strong track record as a great innovator, particularly in mature categories and these strengths will allow him to take a fresh look at the business and enable the company to reach its full potential.

Prior to becoming President of Campbell North America, Connolly served as President Campbell USA and President North American Foodservice. Connolly has also served in a number of marketing and brand management roles at Procter & Gamble (NYSE: PG).

Connolly said that the North American Meat business, with its leading brands and strong market position, has tremendous opportunities for growth as a pure-play company. Connolly further said that he looks forward to working with an experienced and talented team to build the successful new company and create value for shareholders.

 

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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