Kellogg's CFO To Retire At The End Of 2016

Kellogg Company K revealed that its Chief Financial Officer, Ron Dissinger, has decided to retire at the end of the current year. According to the company, Dissinger would step down as CFO effective on December 31. However, he would remain with the company until 2017 to help ensure smooth transition to his successor.

Kellogg said that an internal, as well as the external search for a new company CFO would commence now.

The company's Chairman and CEO, John Bryant, commented, "Ron has had an extraordinary, nearly three-decade career with Kellogg, including the past six years as CFO and a highly valued member of our Global Leadership Team. Over the years, we have relied on Ron's business acumen, disciplined approach to finance and extensive knowledge of our global organization to provide strategic financial leadership across every aspect of our business."

He continued, "Ron has also led or played a central role in a number of other major initiatives that have helped to position Kellogg for the future. These include acquisitions such as Pringles and Bisco Misr, as well as Kellogg Integrated Margin Management, Project K, Zero-Based Budgeting and the development of our 2020 Growth Plan. We thank Ron for his many contributions to Kellogg over the years, as well as for continuing to serve our company in 2017 before he transitions into retirement."

On Thursday, shares of the company traded 2.05 percent down.