It seems to me that the shareholders like the news about the appointment about Frank van Oers as the new CFO Sara Lee | DE and to become a VP of the Sara Lee Corporation.
Based on the released 3 qtr results the net sales of the Sara Lee | DE International Business was around 30% of the total corporation but their operating profit is 50% of it.
Another fact is that the margins in the Coffee business are better then other business sections within Sara Lee.
According to the announcement Frank van Oers was working for the Coffee division in The Netherlands and was in charge as president of finance, administration in information technology.
This appointment gives me the impression that the company recognize the importance of the coffee business for the Sara Lee Corporation future as well as their international business growth outside the US. At the same time the experience and success rate of the decisions made by these VP�s to make the overhaul of the company a success after all.
Is this new news, sounds like it's been in the works for a while. Why is company relocating - especially when profitability keeps getting lower guidance. Is there some way this will help the companies performance? Certainly it will involve some additional costs.... right? Just seems like interesting timing, curious if anyone knows more about this.
This is just part of the restructuring. They are concentrating the execs and managers from the different business up in Chicago; however not all of them are willing to make the move so there will be alot of new good jobs up there in Downer's Grove in case anybody is interested.