MINNEAPOLIS — Next month, global food company General Mills will have a new chief executive officer at the helm.

Current president and chief operating officer Jeffrey Harmening is slated to become CEO on June 1, succeeding Ken Powell, who is retiring. Plans call for Powell, who has served as CEO since 2007, to continue as chairman for a transition period until his retirement, which General Mills said is expected within the next year.

“I am honored to take the helm of General Mills at such an important point in its history,” Harmening said in a statement. “Building on the legacy of those that have led this great company before me is an exciting challenge and one I do not take on alone. General Mills’ employees are singularly focused on driving growth and returns for the long term, and it will be a privilege to help them reach that goal.”

Jeffrey Harmening

The 50-year-old Harmening, who has been president and COO since July 2016, joined General Mills in 1994. He has served in a range of leadership roles in his 23 years at the company, including as senior vice president and CEO of Cereal Partners Worldwide (CPW), General Mills’ joint venture with Nestlé; executive vice president and COO of U.S. Retail; and vice president and senior vice president of the Big G cereal division. He also has held a variety of marketing roles in General Mills’ Betty Crocker, Yoplait, Foodservice and Big G new enterprises units.

“General Mills has a long tradition of delivering top-tier returns that our shareholders have counted on for generations,” Powell commented. “We are focused on growth and feel strongly that Jeff is the right leader for the next leg of our journey.”

General Mills noted that during Harmening’s leadership of the U.S. Retail business, the company greatly expanded its position in the natural and organic segment, including the acquisition of Annie’s and Epic Provisions. The company said the moves made General Mills the nation’s fourth-largest maker of natural and organic foods.

And while president of the U.S. cereal business, Harmening led a realignment of the portfolio spurred growth in sales, market share and profitability, General Mills said. As CEO of the Switzerland-based CPW joint venture with Nestlé, which markets cereal in 130 countries, Harmening also oversaw a reorganization of the company that positioned the business to deliver long-term profitable growth.

“Under Ken’s leadership as CEO, the company made significant strides to expand globally, developed a culture of holistic margin management, and redoubled its focus on meeting the ever-changing needs of consumers,” stated R. Kerry Clark, independent lead director for the General Mills board. “Jeff knows how to build talented teams and has extensive experience both in the U.S. and globally,” Clark added. “He is not afraid to challenge the status quo and he is a tenacious and resilient leader.”

General Mills’ roster of food brands includes Cheerios, Annie’s, Yoplait, Nature Valley, Fiber One, Haagen-Dazs, Betty Crocker, Pillsbury, Old El Paso, Wanchai Ferry and Yoki. among others. The Minneapolis-based company posted fiscal 2016 net sales of $16.6 billion, plus another $1 billion from joint-venture sales.