Mondelēz International, Inc. reached an agreement to sell most of its Australia and New Zealand grocery business to Bega Cheese Ltd., Australia.

Mondelez International, Deerfield, Ill., announced initiatives to redesign its supply chain, which over the next three years, will bring in about $3 billion in gross productivity savings, $1.5 billion in net productivity and $1 billion in incremental cash.

Turkey Hill Dairy's president, Quintin Frey, announced his resignation, effective Aug. 4. Kellogg's president, Brad Davidson, elected to retire after three decades of service with the company. Allen Harim names Steven Evans as chief executive officer, effective Sept. 3.

Former Sara Lee executive, Marcel Smits, becomes chief financial officer, effective April 15.