Newspaper article from our research archive:
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Sara Lee CEO defends restructuring plans
- Article from:
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Chicago Sun-Times
- Article date:
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March 16, 2005
- Author:
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Copyright informationCopyright 2005 Chicago Sun-Times. (Hide copyright information)
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One month after taking over as chief executive of Sara Lee, Brenda
Barnes defended the company's reorganization plan but admitted
shareholders had good reason to be frustrated with its past
performance.
Chicago-based Sara Lee said last month it would spin off its $4.5
billion U.S. apparel business, including the Hanes and Playtex
brands. It also revealed it would sell off its European meats
business, a worldwide cosmetics and household products unit, and the
retail coffee business that owns Chock Full o' Nuts and Hills Bros.
coffees.
The sales would leave Sara Lee with about 40 percent less in
assets.
Sara Lee will hang on to its well-known food businesses, like
Hillshire Farms lunch meats ...
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