Kellogg Company Directors Elect J. Michael Schlotman To Kellogg Company Board

Rhea-AI Summary

Kellogg Company has elected J. Michael Schlotman, former CFO of Kroger, to its Board of Directors effective immediately. Schlotman brings nearly 35 years of grocery industry experience, having served as CFO at Kroger for 19 years. Kellogg's CEO Steve Cahillane expressed optimism about Schlotman's financial expertise and knowledge of the food industry, noting its potential value to Kellogg. In 2019, Kellogg reported approximately $13.6 billion in net sales, primarily from snacks and convenience foods.

Positive

• Appointment of J. Michael Schlotman adds significant grocery industry experience to the Board.
• Schlotman's financial expertise is expected to enhance Kellogg's strategic direction.

Negative

• None.

BATTLE CREEK, Mich., Oct. 23, 2020 /PRNewswire/ -- Kellogg Company announced today the election of J. Michael Schlotman, former Executive Vice President and Chief Financial Officer (CFO) at The Kroger Company, to its Board of Directors, effective immediately.

"We are very pleased to welcome Mike to our Board of Directors," said Steve Cahillane, Chairman and Chief Executive Officer, Kellogg Company. "His tremendous financial experience, coupled with his extensive knowledge of the retail customer and food industries, will be of great value to our company."

Mr. Schlotman brings nearly 35 years of grocery experience to the Kellogg Company Board and joins in preparation for future director retirements. He served as CFO at Kroger for 19 years and since joining Kroger in 1985, held various positions in corporate accounting. He is a member of the Board of Directors of Connetic Ventures LLC and Ohio National Financial Services. Mr. Schlotman is also a member of the Gatton College Accounting Advisory Board.

At Kellogg Company (NYSE: K), we strive to enrich and delight the world through foods and brands that matter. Our beloved brands include Pringles®, Cheez-It®, Special K®, Kellogg's Frosted Flakes®, Pop-Tarts®, Kellogg's Corn Flakes®, Rice Krispies®, Eggo®, Mini-Wheats®, Kashi®, RXBAR®, MorningStar Farms® and more. Net sales in 2019 were approximately $13.6 billion, comprised principally of snacks and convenience foods like cereal and frozen foods. Kellogg brands are beloved in markets around the world. We are also a company with Heart & Soul, committed to creating Better Days for 3 billion people by the end of 2030 through our Kellogg's® Better Days global purpose platform. Visit www.KelloggCompany.com or www.OpenforBreakfast.com.

Social Media posts:

• @KelloggCompany is pleased to welcome new Board member J. Michael Schlotman #Kelloggleadership
• J. Michael Schlotman formerly of @Kroger joins @KelloggCompany Board of Directors

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SOURCE Kellogg Company

FAQ

Who was elected to Kellogg Company's Board on October 23, 2020?

J. Michael Schlotman, former CFO of Kroger, was elected to Kellogg Company's Board on October 23, 2020.

What is J. Michael Schlotman's background?

J. Michael Schlotman has nearly 35 years of grocery industry experience and served as CFO at Kroger for 19 years.

How much were Kellogg's net sales in 2019?

Kellogg's net sales in 2019 were approximately $13.6 billion.

Why is Schlotman's appointment important for Kellogg?

Schlotman's extensive financial experience and industry knowledge are seen as valuable for Kellogg's future strategy.