Sara Lee Corp. Appoints Sean Connolly Chief Executive Officer of MeatCo

Published on Friday, 06 January 2012 08:39 Written by TradersHuddle Staff

DOWNERS GROVE, Ill.-( Business Wire )-

Sara Lee Corp. (NYSE: SLE) today announced that it has appointed Sean Connolly as chief executive officer of its North American Retail and Foodservice business effective January 17, 2012. Connolly will serve as chief executive officer of MeatCo (Sara Lee’s North American Meats business) following the spin off of its International Coffee and Tea business, expected to be completed in the second calendar quarter of 2012.

"We are very excited to have Sean Connolly serve as the head of our MeatCo business as we prepare for it to become a separate pure-play, publicly-held company,” said Sara Lee Corp.’s Executive Chairman Jan Bennink. “He has extensive experience in the American food industry, coupled with a strong track record as a great innovator, particularly in mature categories. These strengths will allow him to take a fresh look at the business and enable the company to reach its full potential.”

Connolly, 46, will join Sara Lee from the Campbell Soup Company where he currently serves as president of Campbell North America, the company’s largest division accounting for approximately $4.6 billion in annual revenues, a position he held since October 2010. Prior to this position, he served as president, Campbell USA and president, North American Foodservice. Under his leadership, Campbell's core condensed soup business grew sales and profit after years of decline, and the V8 Beverage business experienced significant, innovation-driven growth. Connolly joined Campbell in 2002 as vice president, Food Brands.

Before joining Campbell, Connolly served in various marketing and brand management roles at Procter & Gamble for a decade. He earned his B.A. degree in economics from Vanderbilt University, and his M.B.A. degree in general management from the University of Texas at Austin.

“The North American Meats business, with its leading brands and strong market position, has tremendous opportunities for growth as a pure-play company,” said Connolly. “I look forward to working with an experienced and talented team to build this successful new company and create value for shareholders.”

Connolly succeeds Marcel Smits, chief executive officer, Sara Lee Corp., who assumed responsibilities for leading the North American business in September 2011 until a permanent leader was named.

About Sara Lee Corporation

Sara Lee Corp. (NYSE: SLE) and it's leading portfolio of food and beverage brands, including Ball Park, Douwe Egberts, Hillshire Farm, Jimmy Dean, Pickwick Teas, Sara Lee and Senseo, generate nearly $9 billion in annual net sales from continuing operations and employ approximately 20,000 people worldwide. In January, 2011, Sara Lee Corp. announced that it will divide the company into two pure -play publicly-traded companies, one focused on the international coffee and tea market and the other on North American meats. For more information on the company, please visit www.saralee.com.

Sara Lee CorporationMedia: Jon Harris, +1.630.598.8661Analysts: Melissa Napier, +1.630.598.8739