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

Stocks in this article: SLE

In addition to Jan Bennink, two current Sara Lee Corp. board members will transition to the new D.E MASTER BLENDERS 1753 board. They are:

  • Cees J.A. van Lede, retired chairman and chief executive officer, Akzo Nobel N.V.; director since 2002
  • Norman R. Sorensen, chairman of the International Advisory Council and retired chairman, president and chief executive officer, International Asset Management and Accumulation, Principal Financial Group Inc., director since 2007

Sara Lee Corp. Directors

Four current Sara Lee Corp. directors will be stepping down and will not serve on either board. Crandall Bowles, chairman of Springs Industries Inc. and director since 2008, and Dr. John McAdam, retired chief executive officer of Imperial Chemical Industries Limited and director since 2008, will step off the board immediately after the spin-off. Jeffrey W. Ubben, chief executive officer and chief investment officer, ValueAct Capital and director since 2008, and James S. Crown, president, Henry Crown and Company and director since 1998, will step off the board on June 1, 2012.

“I’d like to thank Crandall Bowles, Jim Crown, Dr. McAdam and Jeff Ubben for their service to Sara Lee Corp.,” said Bennink. “They each played critical roles on the board, and were instrumental in developing the spin-off and driving shareholder value.”

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 $8 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.



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