Dana McNabb named COO, joins General Mills (NYSE: GIS) board
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
General Mills announced that its Board elected Dana M. McNabb as Chief Operating Officer and to the Board of Directors, effective June 1, 2026. Her role expands from leading North America Retail and North America Pet to overseeing all operating segments and key functions, including International, North America Foodservice, Digital & Technology, Innovation, Strategy and Growth, and Supply Chain.
To reflect her promotion, McNabb will receive a base salary of $1,000,000, an annual cash incentive target of 150% of base salary, and a target long-term annual incentive award of $4,000,000 in performance share units, restricted stock units, and stock options under the 2022 Stock Compensation Plan. She will not be paid separately for Board service.
The Compensation and Talent Committee also approved one-time restricted stock unit awards with 3-year vesting for two other executives: $3,500,000 for Chief Financial Officer Kofi A. Bruce and $2,500,000 for Chief Digital and Technology Officer Jaime Montemayor, both with a grant and stock price determination date of June 5, 2026 and retirement-related vesting conditions.
Positive
- None.
Negative
- None.
Insights
General Mills elevates Dana McNabb to COO and grants sizable equity awards to key executives.
The company is concentrating operational leadership by promoting Dana McNabb to Chief Operating Officer with responsibility for all operating segments and major functions. This move formalizes her broader role after leading North America Retail and Pet, while CEO Jeff Harmening remains in place.
Her new compensation package combines a $1,000,000 base salary, a 150% annual bonus target, and a $4,000,000 long-term incentive mix. In parallel, the Board approved one-time RSU awards of $3,500,000 for CFO Kofi Bruce and $2,500,000 for Chief Digital and Technology Officer Jaime Montemayor, each vesting over three years with retirement-related conditions between June 5, 2028 and June 5, 2029.
These decisions signal a focus on retaining and aligning top leadership through equity-based incentives. The filing also reiterates that General Mills generated fiscal 2025 net sales of $19 billion, plus $1 billion from its share of joint venture net sales, providing scale context but no new financial guidance.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
COO base salary: $1,000,000 per year
COO annual incentive target: 150% of base salary
COO long-term incentive target: $4,000,000 per year
+4 more
7 metrics
COO base salary
$1,000,000 per year
Compensation for Dana McNabb as Chief Operating Officer
COO annual incentive target
150% of base salary
Target cash bonus opportunity for Dana McNabb
COO long-term incentive target
$4,000,000 per year
Annual target equity awards for Dana McNabb under 2022 Stock Compensation Plan
CFO one-time RSU award
$3,500,000
Restricted stock units for CFO Kofi A. Bruce with 3-year vesting
Chief Digital and Technology Officer RSU award
$2,500,000
Restricted stock units for Jaime Montemayor with 3-year vesting
Net sales
$19 billion
General Mills fiscal 2025 net sales
Joint venture net sales share
$1 billion
Company’s share of non-consolidated joint venture net sales in fiscal 2025
Key Terms
Chief Operating Officer, performance share units, restricted stock units, stock options, +2 more
6 terms
Chief Operating Officer financial
"the Board elected Dana M. McNabb Chief Operating Officer of the Company effective June 1, 2026"
A chief operating officer (COO) is a senior executive responsible for overseeing the day-to-day activities of a company, ensuring that all parts of the organization work smoothly and efficiently. They often act like a company's operational quarterback, translating strategic plans into practical actions. For investors, the COO's effectiveness can influence a company's performance and stability, making them an important figure in assessing the company's management strength.
restricted stock units financial
"a one-time $3,500,000 Restricted Stock Unit award with 3-year vesting and a grant and stock price determination date of June 5, 2026"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
stock options financial
"a target long-term annual incentive award of $4,000,000 that consists of a mix of performance share units, restricted stock units, and stock options"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
2022 Stock Compensation Plan financial
"will be granted under the Company’s 2022 Stock Compensation Plan and subject to related award agreements"
Accelerate strategy financial
"The company is guided by its Accelerate strategy to boldly build its brands, relentlessly innovate, unleash its scale and stand for good"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________________________
FORM 8-K
___________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 4, 2026
___________________________
(Exact name of Registrant as Specified in Its Charter)
___________________________
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
| (Address of Principal Executive Offices) | (Zip Code) | ||||
Registrant’s Telephone Number, Including Area Code: (763 ) 764-7600
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
___________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 5, 2026, the Board of Directors (the “Board”) of General Mills, Inc. (the “Company”) elected Dana M. McNabb Chief Operating Officer of the Company effective June 1, 2026. The Board also elected Ms. McNabb to the Company’s Board effective June 1, 2026. A copy of the press release issued by the Company is furnished with this report as Exhibit 99.
Ms. McNabb, age 50, has served as Group President, North America Retail and North America Pet since June 2025. Ms. McNabb joined General Mills in 1999 and held a variety of marketing roles in Cereal, Snacks, Meals, and New Products before becoming Vice President, Marketing for CPW in 2011 and Vice President, Marketing for the Circle of Champions Business Unit in 2015. She became President, U.S. Cereal Operating Unit in 2016, Group President, Europe & Australia in January 2020, Chief Strategy & Growth Officer in July 2021, and Group President, North America Retail in January 2024.
On May 4, 2026, the Compensation and Talent Committee of the Company’s Board adjusted the current compensation levels for Ms. McNabb to reflect her promotion to Chief Operating Officer of the Company effective June 1, 2026. As Chief Operating Officer, Ms. McNabb will receive a base salary of $1,000,000, an annual cash incentive target of 150% of base salary, and a target long-term annual incentive award of $4,000,000 that consists of a mix of performance share units, restricted stock units, and stock options and will be granted under the Company’s 2022 Stock Compensation Plan and subject to related award agreements. Ms. McNabb will not receive any compensation for serving on the Company’s Board.
There are no family relationships between Ms. McNabb and any director or executive officer of the Company that would be required to be disclosed pursuant to Item 401(d) of Regulation S-K, and there are no transactions between Ms. McNabb and the Company that would be required to be disclosed pursuant to Item 404(a) of Regulation S-K.
On May 4, 2026, the Compensation and Talent Committee of the Company’s Board also approved the following awards for (i) Kofi A. Bruce, the Company’s Chief Financial Officer, a one-time $3,500,000 Restricted Stock Unit award with 3-year vesting and a grant and stock price determination date of June 5, 2026; and (ii) Jaime Montemayor, the Company’s Chief Digital and Technology Officer, a one-time $2,500,000 Restricted Stock Unit award with 3-year vesting and a grant and stock price determination date of June 5, 2026. Mr. Bruce and Mr. Montemayor will forfeit their awards if they retire before June 5, 2028, but will receive continued pro-rata vesting of their awards if they retire between June 5, 2028 and June 5, 2029. The awards will be granted under the Company’s 2022 Stock Compensation Plan and subject to related award agreements.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits.
| 99 | Press release of General Mills, Inc. dated May 6, 2026. | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | ||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 6, 2026
| GENERAL MILLS, INC. | ||||||||
| By: | /s/ Karen Wilson Thissen | |||||||
| Name: | Karen Wilson Thissen | |||||||
| Title: | General Counsel and Secretary | |||||||
Exhibit 99
FOR IMMEDIATE RELEASE
Contact
Communications
Media.Line@GenMills.com
763-764-6364
General Mills Names Dana McNabb
Chief Operating Officer
McNabb also joins Board of Directors
MINNEAPOLIS (May 6, 2026) — General Mills (NYSE: GIS) today announced Dana McNabb has been promoted to Chief Operating Officer, effective June 1, 2026. McNabb will continue to report to Chairman and CEO Jeff Harmening and join General Mills’ board of directors.
In addition to her current accountabilities leading North America Retail and North America Pet, McNabb will add responsibility for all General Mills’ operating segments and key operating functions, including the International and North America Foodservice segments and the Digital & Technology, Innovation, Technology & Quality, Strategy and Growth, and Supply Chain teams.
“Dana is a disciplined, strategic leader and results-driven operator with a proven passion for our brands and consumers,” said Harmening. “As someone who looks ahead and acts with urgency, Dana has led an initiative to reinvigorate our brands by strengthening their remarkability. She is exceptionally well suited to lead our global operations and restore profitable growth for General Mills and our shareholders.”
McNabb has served as Group President of North America Retail since 2024 and added North America Pet to her responsibilities in 2025. She previously held roles as Chief Strategy & Growth Officer; Group President, Europe & Australia segment; President of the U.S. Cereal operating unit; and Vice President of Global Marketing for Cereal Partners Worldwide (CPW), the company’s joint venture with Nestlé headquartered in Switzerland. McNabb started her General Mills career in Canada in 1999 and her marketing experience has spanned the company's major businesses, including Cereal, Snacks, Meals and Dairy.
McNabb holds a bachelor's degree in commerce from the University of Ottawa and a master's degree in business administration from the London School of Business. She also serves on the board of directors of CPW.
# # #
About General Mills
General Mills makes food the world loves. The company is guided by its Accelerate strategy to boldly build its brands, relentlessly innovate, unleash its scale and stand for good. Its portfolio of beloved brands includes household names like Cheerios, Nature Valley, Blue Buffalo, Häagen-Dazs, Old El Paso, Pillsbury, Betty Crocker, Totino’s, Annie’s, Wanchai Ferry and more. General Mills generated fiscal 2025 net sales of U.S. $19 billion. In addition, the company’s share of non-consolidated joint venture net sales totaled U.S. $1 billion. For more information, visit www.generalmills.com.
General Mills makes food the world loves. The company is guided by its Accelerate strategy to boldly build its brands, relentlessly innovate, unleash its scale and stand for good. Its portfolio of beloved brands includes household names like Cheerios, Nature Valley, Blue Buffalo, Häagen-Dazs, Old El Paso, Pillsbury, Betty Crocker, Totino’s, Annie’s, Wanchai Ferry and more. General Mills generated fiscal 2025 net sales of U.S. $19 billion. In addition, the company’s share of non-consolidated joint venture net sales totaled U.S. $1 billion. For more information, visit www.generalmills.com.
FAQ
What executive leadership change did General Mills (GIS) announce?
General Mills promoted Dana McNabb to Chief Operating Officer, effective June 1, 2026, and added her to its board. She will oversee all operating segments and key functions, expanding beyond her current North America Retail and North America Pet responsibilities while continuing to report to the CEO.
How is Dana McNabb’s new role as General Mills COO compensated?
As COO, Dana McNabb will receive a $1,000,000 base salary, an annual cash incentive target of 150% of salary, and a $4,000,000 target long-term incentive mix of performance share units, restricted stock units, and stock options granted under the 2022 Stock Compensation Plan.
What equity awards did General Mills (GIS) grant to its CFO and Chief Digital and Technology Officer?
General Mills approved a one-time $3,500,000 restricted stock unit award for CFO Kofi A. Bruce and a one-time $2,500,000 restricted stock unit award for Chief Digital and Technology Officer Jaime Montemayor, each with three-year vesting and a grant and stock price determination date of June 5, 2026.
What are the retirement conditions on the new RSU awards at General Mills?
The RSU awards for CFO Kofi Bruce and Chief Digital and Technology Officer Jaime Montemayor are forfeited if they retire before June 5, 2028. If they retire between June 5, 2028 and June 5, 2029, the awards continue to vest on a pro-rata basis, subject to award agreements.
Does Dana McNabb receive additional pay for serving on the General Mills board?
Dana McNabb will not receive extra compensation for serving on the General Mills board. Her pay reflects her Chief Operating Officer responsibilities, including salary, annual incentive target, and long-term equity awards granted under the company’s 2022 Stock Compensation Plan.
What recent scale metrics did General Mills (GIS) highlight in this disclosure?
General Mills noted it generated fiscal 2025 net sales of $19 billion. It also reported its share of non-consolidated joint venture net sales totaled $1 billion, underscoring the size of its branded food portfolio and joint venture contributions globally.