General Mills, Inc. announced on September 29, 2026, that its Board of Directors has elected Dana M. McNabb as Chief Executive Officer. The appointment is effective January 1, 2027. McNabb succeeds Jeffrey L. Harmening, who will retire as CEO and assume the role of Executive Chair of the Board.
McNabb, age 50, has served as the company's Chief Operating Officer since June 2026. She joined General Mills in 1999 and has held a variety of marketing and executive roles, including Group President of North America Retail, Chief Strategy & Growth Officer, and President of the U.S. Cereal Operating Unit. She also previously served as Group President of Europe & Australia and Vice President of Global Marketing for Cereal Partners Worldwide, a joint venture with Nestlé.
The Board approved adjusted compensation levels for McNabb effective January 1, 2027. Her base salary will be $1,350,000, with an annual cash incentive target of 180% of base salary. Additionally, she will receive an incremental target long-term annual incentive award of $2,100,000, consisting of a mix of performance share units (50%), restricted stock units (25%), and stock options (25%).
Separately, the Board approved adjusted compensation for outgoing CEO Harmening to reflect his new role as Executive Chair. His base salary will be reduced to $1,100,000, and his annual cash incentive target will decrease to 125% of base salary.
In a statement, Lead Director Maria Henry highlighted the Board's confidence in McNabb's ability to lead the company through its next chapter of growth. Harmening noted that under his leadership, General Mills delivered over $17 billion to shareholders through dividends and share repurchases and revamped a third of its portfolio for greater growth.
