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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): September 29, 2026
___________________________
General Mills, Inc.
(Exact name of Registrant as Specified in Its Charter)
___________________________
| | | | | | | | |
| Delaware | 001-01185 | 41-0274440 |
(State or Other Jurisdiction
of Incorporation) | (Commission
File Number) | (IRS Employer
Identification No.) |
| | | | | |
| Number One General Mills Boulevard | |
Minneapolis, Minnesota | 55426 |
| (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):
| | | | | |
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
| o | 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 |
| Common Stock, $.10 par value | | GIS | | New York Stock Exchange |
| 1.500% Notes due 2027 | | GIS 27 | | New York Stock Exchange |
| 3.907% Notes due 2029 | | GIS 29 | | New York Stock Exchange |
| 3.650% Notes due 2030 | | GIS 30A | | New York Stock Exchange |
| 3.600% Notes due 2032 | | GIS 32 | | New York Stock Exchange |
| 3.850% Notes due 2034 | | GIS 34 | | New York Stock Exchange |
| 4.750% Series A Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056 | | GIS 56 | | New York Stock Exchange |
| 5.250% Series B Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056 | | GIS 56A | | New York Stock Exchange |
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 September 29, 2026, the Board of Directors (the “Board”) of General Mills, Inc. (the “Company”) elected Dana M. McNabb Chief Executive Officer of the Company effective January 1, 2027. Ms. McNabb succeeds Jeffrey L. Harmening who is retiring as Chief Executive Officer and will remain Executive Chair of the Board. 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 Chief Operating Officer since June 2026. 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, Group President, North America Retail in January 2024, and Group President, North America Retail and North America Pet in June 2025, and she has served on the Board since June 2026.
On September 29, 2026, the Board approved adjusted compensation levels for Ms. McNabb to reflect her promotion to Chief Executive Officer of the Company effective January 1, 2027. As Chief Executive Officer, Ms. McNabb will receive a base salary of $1,350,000 and an annual cash incentive target of 180% of base salary. She will receive an incremental target long-term annual incentive award of $2,100,000 that consists of a mix of performance share units (50%), restricted stock units (25%), and stock options (25%) and will be granted under the Company’s 2022 Stock Compensation Plan and subject to related award agreements.
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 September 29, 2026, the Board also approved adjusted compensation levels for Mr. Harmening to reflect his ongoing service as Executive Chair of the Board effective January 1,2027. As Executive Chair of the Board, Mr. Harmening’s base salary will be reduced to $1,100,000 and his annual cash incentive target will decrease to 125% of base salary.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits.
| | | | | |
| 99 | Press release of General Mills, Inc. dated September 30, 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: September 30, 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 Announces
Dana McNabb as Chief Executive Officer
Jeff Harmening to Serve as Executive Chair of
General Mills’ Board of Directors
MINNEAPOLIS (Sept. 30, 2026) – General Mills announced today that its board of directors has unanimously elected Dana McNabb, currently the company’s Chief Operating Officer, to succeed Jeff Harmening as Chief Executive Officer. Harmening will become executive chair of the board of directors. Both appointments are effective January 1, 2027.
Over her 27-year career at General Mills, McNabb has held several senior leadership positions across the company in general management, enterprise strategy, marketing and international. As Chief Operating Officer, she currently leads all four General Mills operating segments and key operating functions, including North America Retail, North America Pet, North America Foodservice, International, Sales, Supply Chain, and Innovation, Technology and Quality.
McNabb served as Group President of North America Retail starting in 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, the company’s joint venture with Nestlé headquartered in Switzerland. McNabb started her General Mills career in Canada in 1999, and she holds a bachelor's degree in commerce from the University of Ottawa and a master's degree in business administration from the London Business School.
“Following a robust, multi-year succession planning process, the board is confident that Dana is the right executive to lead the company through its next chapter of growth and value creation,” said Maria Henry, the board’s Independent Lead Director. “Dana has made significant contributions as a key member of the executive leadership of the company over the past few years, and across the business globally throughout her career. She has a strong track record of success, and a deep understanding of our consumers, our brands, our company and our industry. Dana is an outstanding leader with a clear strategic vision that she will translate into tangible outcomes for our shareholders, employees and the communities we serve.
“On behalf of the board,” Henry continued, “I also want to extend our heartfelt gratitude to Jeff. Under his leadership, General Mills has become a larger company with a stronger portfolio. It has delivered over $17 billion to shareholders through dividends and share repurchases, and revamped a third of its portfolio for greater growth, including the addition of the growing Pet category. The company has benefited from Jeff’s steadfast and calm leadership during nearly a decade of extraordinary and unprecedented
circumstances. We are fortunate to have Jeff continue as Executive Chair of the board to help ensure a smooth transition.”
"It is an honor and a privilege to lead General Mills into the future,” said McNabb. "Returning the company to profitable growth is the priority, and we know how we'll get there. By building industry-leading, digitally enabled demand generation, and modernizing our supply chain, we will fundamentally improve how we operate. This is a company with the brands and the people to win — my job is to make sure we do.
“I also have the utmost appreciation for the strong foundation Jeff laid for our next chapter,” continued McNabb. “Jeff not only grew our company, he modernized it. He laid new groundwork for our digital and technology capabilities, revamped our portfolio for growth and challenged us to work and operate in ways that better match today’s world. We are a more resilient company today thanks to his leadership and foresight.”
“It’s been an incredible honor,” said Harmening. “I sincerely thank the entire General Mills team for all they have done to advance our Accelerate strategy, often against the most trying of circumstances.
“Looking ahead,” continued Harmening, “I am confident that Dana has the vision, urgency and intellect needed to advance our next chapter. I have had the opportunity to witness firsthand her ability to drive transformation and build a high-performing culture. She is the right leader for this time, one that will take our company to the next level.”
# # #
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 2026 net sales of U.S. $18 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.
