General Mills Inc 8-K, filed Jan 29, 2020
General Mills Inc (GIS)
About this 8-K
General Mills Inc filed this 8-K on January 29, 2020, reporting on events of January 27, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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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):
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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. ☐
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Item 5.02 |
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers |
On January 27, 2020, Jo Ann Jenkins was appointed to the Board of Directors of General Mills, Inc. (the “Company”). The Board has determined that Ms. Jenkins qualifies as an independent director in accordance with the New York Stock Exchange Listing Standards. Ms. Jenkins was appointed to the Corporate Governance Committee and the Public Responsibility Committee of the Board. The size of the Company’s Board is now twelve directors.
Ms. Jenkins’ compensation for Board service is consistent with the arrangements described in the Company’s definitive proxy statement filed on August 12, 2019, under “Director Compensation,” including a grant to Ms. Jenkins of restricted stock units with a grant date fair value of approximately $180,000 at her first board meeting.
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Item 8.01 |
Other Events. |
Jo Ann Jenkins’ biographical information is furnished in the press release attached hereto as Exhibit 99.
Item 9.01Financial Statements and Exhibits.
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(d) |
Exhibits. |
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99 |
Press release of General Mills, Inc. dated January 27, 2020.
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document).
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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: January 29, 2020
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GENERAL MILLS, INC. |
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By: /s/ Richard C. Allendorf |
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Name: Richard C. Allendorf |
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Title: General Counsel and Secretary |
Exhibit 99
News/Information
Investor Relations
P. O. Box 1113
Minneapolis, MN 55440
FOR IMMEDIATE RELEASE
January 27, 2020
Contact: (analysts) Jeff Siemon: 763-764-2301
(media) Kelsey Roemhildt: 763-764-6364
General Mills Elects Jo Ann Jenkins to Board of Directors and Declares Quarterly Dividend
MINNEAPOLIS, Minn. (January 27, 2020) -- General Mills (NYSE: GIS) today announced the election of Jo Ann Jenkins to its board of directors effective January 27, 2020.
As Chief Executive Officer of AARP, Jenkins brings to the board a deep understanding of strategic management and innovative marketing from her experiences leading and transforming the nation’s largest nonprofit organization serving Americans aged 50 and older. With a strong background in public service, she will provide valuable insights on public policy, government affairs, and community relations.
The appointment of Jenkins reflects General Mills' thoughtful approach to board succession and refreshment. The company continues to prioritize directors with world-class qualifications and experiences, and who represent diverse backgrounds and perspectives. Jenkins’ board election makes her the fifth woman currently serving on the General Mills board.
Jenkins has served as Chief Executive Officer of AARP since 2014, and previously served as Chief Operating Officer of AARP and President of the AARP Foundation. Prior to joining AARP, Jenkins served at the Library of Congress as Chief Operating Officer and Chief of Staff. She has also held a variety of senior roles at the U.S. Department of Agriculture, the U.S. Department of Transportation, and the U.S. Department of Housing and Urban Development. Jenkins currently serves on the boards of AARP and Avnet, Inc.
In other action at its regularly scheduled January meeting, the General Mills board declared a quarterly dividend at the prevailing rate of $0.49 per share, payable May 1, 2020, to shareholders of record as of April 10, 2020. General Mills and its predecessor company have paid dividends without interruption for 121 years.
About General Mills
General Mills is a leading global food company that serves the world by making food people love. Its brands include Cheerios, Annie's, Yoplait, Nature Valley, Häagen-Dazs, Betty Crocker, Pillsbury, Old El Paso, Wanchai Ferry, Yoki, BLUE and more. Headquartered in Minneapolis, Minnesota, USA, General Mills generated fiscal 2019 net sales of U.S. $16.9 billion. In addition, General Mills’ share of non-consolidated joint venture net sales totaled U.S. $1.0 billion.