Mars Inc has named Grant Reid, the head of its chocolate business, as its new president after announcing Paul Michaels will retire at the end of the year.
Michaels, who had been president of the US food giant since 2004, is set to step down on 31 December. Reid is the global president of Mars Chocolate.
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“In his almost 11 years at the helm of Mars, Incorporated, Paul has overseen a period of outstanding business performance and tremendous achievement,” Victoria Mars, chairman of the Mars board of directors, said. “It’s because of his focus on nurturing leaders who are both talented and principled, that we have such a strong internal successor in the business.”
Reid, who has been with Mars for 26 years, will step into a co-office of the president role effective 2 July and will take on the role of president formally in January.
“I’m grateful to the board of directors for giving me this opportunity and proud to have been chosen as the next president of Mars, Incorporated,” Reid said. “Mars has always encouraged and provided opportunity for growth and development of associates, and I am certainly living proof of that fact. I believe in the Mars culture, I love the Mars brands and I know that we have the best associates in the world. We have a truly exciting future and I’m honoured to lead the organisation into that future.”
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