Kellanova announces John Renwick as new CFO

USA – The board of directors of Kellanova has announced that John Renwick will serve as the firm’s acting senior vice president and chief financial officer (CFO).

Since 2016, Renwick has served as Kellanova’s vice president of corporate planning and investor relations.

Prior to then, he held a number of positions in international finance, sales finance, investor relations, and planning in the US.

He was also vice president, finance, and CFO of US Snacks from 2013 to 2016. He served as Morgan Stanley’s vice president of equity research from 1993 to 2000 before joining Kellogg. In addition, he was Chemical Bank’s associate vice president of middle market banking.

He graduated from Middlebury College in Middlebury, Vermont, with a bachelor’s degree in economics.

“Amit has been instrumental in returning Kellogg Company to growth through our Deploy for Growth strategy, the spinoff of our North America cereal business and creation of Kellanova, and now preparing to join with Mars, approvals pending. We wish Amit all the best in his new chapter and congratulate John on this appointment,” the company said.

This comes after the release of Kellanova’s first quarter 2025 results, which concluded on March 29, the company’s net income climbed 14% to US$304M, or US$0.87 per share of common stock, from US$267M, or US$0.78 per share, the previous year.

The cycle of restructuring charges from the previous year and a reduced effective tax rate were cited by the corporation as the reasons for the 11.5% increase in earnings per share.

Adjusted diluted net earnings per share (EPS), however, fell 10.9% to US$0.90 (down 7.9% to US$0.93 on a currency-neutral basis) from US$1.01 per share a year earlier, excluding merger and separation costs among other costs. Wall Street’s consensus prediction of US$1.01 was not met by this outcome.

Furthermore, Kellanova reiterated that the US$35.9 billion takeover deal with Mars is still anticipated to be completed in the first half of 2025, subject to regulatory clearances and usual closing conditions.

The deal, which was revealed in mid-August, calls for Mars to pay US$83.50 in cash for each Kellanova share. At a special meeting held on November 1, Kellanova shareholders approved the deal. 

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