Battle Creek / MG. (kc) Kellogg Company announced that its Chief Financial Officer, Fareed Khan, is leaving the Company on July 1, following the completion of the Company’s second quarter. He will be succeeded by Amit Banati, who is currently President, Kellogg Asia Pacific, Africa + Middle East (AMEA).
«We thank Fareed for his valued contributions during a period of major change at Kellogg Company» said Steve Cahillane, Kellogg’s Chairman and Chief Executive Officer. «He has been a trusted partner in creating and implementing our Deploy For Growth strategy, aimed at returning the Company to sustainable, profitable growth. We wish him the very best in his next endeavors.»
Khan came to Kellogg in February, 2017, following stints as CFO at US Foods and United Stationers, as well as in a variety of finance, business and leadership roles at USG Corporation. Prior to those experiences he had spent several years as a management consultant at McKinsey + Company. Khan arrived at Kellogg at a time when the Company was undergoing significant cost restructuring under its Project K and Zero-Based Budgeting programs, and played a key role in the completion of those programs. He also helped to drive the adoption of a new strategy, which included revitalizing key brands through targeted investment, and reshaping Kellogg’s portfolio through M+A.
Banati joined Kellogg in March, 2012, as President Asia Pacific, and his responsibilities expanded into the broader AMEA region in July, 2018. Under his leadership, AMEA has stabilized developed markets, and expanded Kellogg’s portfolio and presence in emerging markets. Prior to Kellogg, he began his career in finance at Procter + Gamble, before moving to Cadbury Schweppes, where he was the chief financial officer of Cadbury Schweppes Asia Pacific. Thereafter, he served in a variety of general management roles at Cadbury Schweppes, Kraft Foods and Mondelez.
«We are pleased to be able to succeed Fareed with a Kellogg executive as outstanding as Amit Banati,» said Cahillane. «With his strategic vision, operational discipline, and financial acumen, Amit has been a driving force behind the transformation of our business in AMEA. This region is on a path to more than double in size, in both net sales and operating profit, since Amit became its President, and it has demonstrated the kind of balanced top-line and bottom-line growth we strive for as a Company.»
Between now and the effective date of July 1, 2019, Banati and Khan will work together in a formal transition.
«We expect a very smooth transition because Amit has been a member of our executive committee for the past seven years, and because Fareed has agreed to stay on through June,» added Cahillane.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- ADM: Appoints EVP and Chief Financial Officer
- Position change: Chipotle announces new CFO
- Delivery Hero announces interim Chief Financial Officer
- McCormick: Announces Executive VP and CFO
- Cloetta: Confectionery Group appoints country manager
- Fazer Group: announces Chief Procurement Officer
- Little Caesars And Ilitch Announce Key Technology Promotions
- Sweden Won The 52nd UIBC World Championship Of Young Bakers
- CKE Restaurants: Appoints Chief Technology and Growth Officer
- RBI: Announces Election of Directors
- «ezCater»: Names Chief Revenue Officer
- Schwan’s Company: names new Chief Executive Officer
- Post Holdings: Announces Upcoming Leadership Changes
- RBI: Appoints Senior Advisor in Asia-Pacific Region
- KKD: announces Chief Legal Officer
- Nomad Foods: appoints new Chief Financial Officer
- Rohlik Group: announces new Chief Technology Officer
- Ardent Mills: Names new Chief Executive Officer
- Wendy’s: Company announces management optimization
- Kesko: announces changes to the Group’s Management Board