Shares of Kellogg Co. sank 4% in premarket trade Thursday, after the cereal and snack company reported a first-quarter profit that beat expectations, while sales came up a bit shy, amid weakness in North American, Europe and Latin America, and said its chief financial officer was leaving. Net income fell to $282 million, or 82 cents a share, from $444 million, or $1.27 a share, in the year-ago period. Excluding non-recurring items, adjusted EPS fell to $1.01 from $1.23, above the FactSet consensus of 95 cents. Sales rose 3.5% to $3.52 billion, just below the FactSet consensus of $3.54 billion. Sales in North America fell "less than 2%," in Europe fell 4% and in Latin America declined 3%, but increased 60% in Asia, Middle East and Africa (AMEA). In North America, cereal sales fell 4.9%, snacks sales slipped 0.25 and frozen sales declined 1.5%. Separately, Kellogg said CFO Fareed Khan was leaving the company on July 1, after 2 1/2-years in the role. The company named Amit Banati, currently president of Kellogg AMEA, as Khan's successor. The stock has gained 4.8% over the past 12 months, while the SPDR Consumer Staples Select Sector ETF has rallied 16.3% and the S&P 500 has advanced 10.9%.