Sara Lee names interim CEO; "office of the chairman"
The company said lead independent director James Crown will assume the role of chairman. Sara Lee's board also named Marcel Smits, executive vice president and chief financial officer, as interim CEO.
In conjunction, Sara Lee said it created an "Office of the Chairman," which will include Crown, Smits and Christopher (CJ) Fraleigh, chief executive officer of North American Retail and Foodservice. This group will ensure "the continued effective execution of strategic initiatives and further enhance operational efficiencies," the company said.
Sara Lee also named Mark Garvey as interim chief financial officer. He joined Sara Lee in 1995 and has served in several executive posts. He most recently has been senior vice president-Global Business Services and corporate controller.