This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sara Lee Corp. Names Boards Of Directors For Independent Businesses Following Spin-off

Sara Lee Corp. (Sara Lee) (NYSE: SLE) today announced the boards of directors for its international coffee and tea company, D.E MASTER BLENDERS 1753 and its North American meats company (currently referred to as “MeatCo”).

Upon completion of the proposed spin-off, Christopher Begley, current director of Sara Lee Corp. and the former chairman and chief executive officer of Hospira, Inc., will serve as non-executive chairman of the board of MeatCo.

As previously announced, Jan Bennink, currently executive chairman of Sara Lee Corp., will serve as non-executive chairman of the board of D.E MASTER BLENDERS 1753, which will be spun-off by the end of June 2012. Bennink has served as executive chairman of Sara Lee Corp. since Feb. 2011.

"I am very pleased with the strength and composition of our boards, which carry both continuity and new expertise," Bennink said. “Both boards benefit from directors with deep and relevant experience, as well as a commitment to strong corporate governance and shareholder value. Chris Begley knows MeatCo well and I am confident he will be an effective chairman. I look forward to continuing my work with D.E MASTER BLENDERS 1753.”

MeatCo

After completion of the spin-off, the MeatCo board will feature three new board members and five existing Sara Lee Corp. directors. The MeatCo board intends to add one more member in the future to bring the total number of directors to nine. The new board members are:

Todd Becker, 46, who has served as president and chief executive officer of Green Plains Renewable Energy, Inc. since 2009 and was appointed as a director of the company the same year. Prior to his current position, Becker served as chief executive officer of VBV LLC (precursor to Green Plains) from May 2007 to October 2008. Mr. Becker also worked for ten years with ConAgra Foods in various management positions including vice president of international marketing for ConAgra Trade Group and president, ConAgra Grain Canada.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs