Kellogg, which makes Frosted Flakes, Pop-Tarts and Eggo waffles, says Cahillane will start as CEO next week and will join the company's board.
The Kellogg CEO will be officially retiring from the company on October 2, 2017.
Kellogg Co replaced chief executive John Bryant with food industry veteran Steven Cahillane on Thursday as the world's largest cereal maker continues efforts to halt 2-1/2 years of declining sales. Cahillane most recently served as the President and CEO of The Nature's Bounty Co.
The next Kellogg CEO has already been chosen by the company's Board of Directors.
Bryant, who has been chief executive officer of the giant cereal and snack foods maker for the past seven years, has made a decision to retire and the company's board of directors has elected Steven A. Cahillane to be his successor. He will also take over as the Executive Chairman of the Board following Bryant's retirement from that position next year.
"It has been my pleasure to serve as the CEO of Kellogg Company over the past seven years", Bryant said in a press release.
Cahillane said Kellogg had "tremendous growth opportunities before us".
Steven Cahillane will be bringing years of experience with him when he becomes the new Kellogg CEO next month. Other roles there included president and CEO of the Coca-Cola Refreshments business, president of Coca-Cola Enterprises in North America and president of Coca-Cola Enterprises in Europe. Prior to this, he was President of The Coca-Cola Co's (NYSE:KO) Americas division. Before working for the soft drinks giant, Cahillane spent eight years at beer giant AB InBev and its forerunner companies.
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