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Sara Lee reviews progress at CAGNY's conf

23
Feb '06

Apparel maker Sara Lee's Chairman & CEO Brenda C Barnes and Executive Vice President and Chief Financial and Administrative Officer LM (Theo) de Kool reviewed the progress of the company's transformation, which was announced one year ago

With the first year of the transformation complete, Barnes highlighted the milestones reached on the company's three pillars: organizing business operations around consumers, customers and geographic markets; achieving operational efficiency to fund growth; and focusing the portfolio.

“Just one year into implementing their plan, they are much closer to their goal of transforming Sara Lee into a world-class integrated operating company and they are confident that they have the right plan and the right people in place to get the job done,” said Barnes.

“They are pleased with the tremendous progress they have made in the first year, especially organizing their company to be closer to their consumers and customers as well as taking the necessary portfolio actions, including divesting the direct selling, US retail coffee and European branded apparel businesses, to better focus their company.”

Barnes underscored that Sara Lee is committed to growing the company's sales by creating innovative, new products, such as Sara Lee Soft & Smooth whole-grain white bread, Jimmy Dean Skillets, Ambi Pur 3volution and Senseo cappuccino.

“As they move forward with the transformation, they will increase their focus onimproving operational efficiency that will drive cost savings – an area where they already are making great strides – and more effective execution across their business,” added Barnes.

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