USA: Kellogg's posts soggy results
Carlos Gutierrez, CEO of Kellogg , has warmed that the company will face painful times ahead before it emerges stronger. The US cereals group posted disappointing fourth-quarter results on Thursday (25 January). Gutierrez was hopeful that the change in its business strategy, including focusing its resources on the US, spending more in marketing to build specific brands and changing its sales infrastructure, would be absorbed by the company over three quarters of this year. Kellogg is also seeking diversify away from its dependence on cereals with the acquisition of
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