President of Kellogg Co. Resigns Posts
Kellogg Co. President and Chief Operating Officer Horst W. Schroeder has resigned, citing personal reasons.
Kellogg Chairman and Chief Executive William E. LaMothe said he would assume the responsibilities of the president’s office.
Schroeder, 48, had been with the world’s largest cereal company for 19 years and had been president and chief operating officer since December, 1988.
LaMothe said in a news release that Schroeder resigned from the company and as a director for personal reasons.
Kellogg officials refused to elaborate on the reasons for the resignation or comment on a possible permanent successor to Schroeder.
Schroeder, a native of Schwerin, West Germany, joined Kellogg in 1970 as financial controller of Kellogg (Deutchland) GmbH.
In 1976, he was promoted to managing director for West Germany, Austria and Switzerland and in 1978 was given responsibility for the Mediterranean area.
He was promoted to president and chief executive of Kellogg Salada Canada Inc. in January, 1981, and appointed executive vice president of Kellogg Co. in January, 1984.
He was named president and chief operating officer of Kellogg Co. in December, 1988, and elected to the board in April, 1989.
Kellogg’s latest fiscal-year earnings were $480.4 million on revenue of $4.35 billion. General Mills Co. is the world’s second-largest cereal producer.
