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Kellogg Names New CEO

David Mackay will take over Dec. 31.

Cereal seller


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said David Mackay will take over as chief executive Dec. 31, replacing Jim Jenness.

Jenness, 60, will continue as chairman.

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"David's promotion to CEO is gr-r-reat for our company and shareholders," Jenness said in a press release, paying reference to Kellogg's iconic Tony the Tiger character. "

Mackay's contribution to growing and sustaining the company's performance has been invaluable."

Mackay joined Kellogg Australia as group product manager in 1985, and since that time, he has held numerous management and leadership positions in the U.S., Australia and Europe. After leaving the company for a brief period, he rejoined Kellogg Australia in 1998 and returned to the U.S. business in 2000.

Kellogg said Mackay was actively involved in developing its growth strategy, and he has been a member of the executive management team for five years.

Most recently, he served as president and chief operating officer.