Setting a precedent? General Mills slashes CEO’s Pay 6%

The marketer of Cheerios cereal, Pillsbury bakery products and Green Giant vegetables paid Powell 2014 fiscal year compensation valued at $8.1 million, a 6% drop from 2013. Powell gained another $7.4 million from vested shares and exercising previously awarded stock options, General Mills said Monday in an annual proxy filing.

General Mills, which posted drops in cereal, dough and vegetable sales, reported overall fiscal 2014 revenue rose just 0.7% to $17.9 billion. Net earnings fell 2% to $1.82 billion.

Read more: America’s Markets

Chief Executive magazine (published since 1977) is the definitive source that CEOs turn to for insight and ideas that help increase their effectiveness and grow their business. Chief Executive Group also produces e-newsletters and online content at and manages Chief Executive Network and other executive peer groups, as well as conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers. Chief Executive facilitates the annual “CEO of the Year,” a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of peers, and is known throughout the U.S. and elsewhere for its annual ranking of Best & Worst States for Business. Visit for more information.