GENERAL MILLS INC
For the period ended Sep 30, 2025. Filed Aug 11, 2025.
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Sep 30, 2025 · Filed Aug 11, 2025
Contents
Proxy Statement Summary
| ProxyStatementSummary | Guided by our purpose to make food the world loves, General Mills is executing our Accelerate strategy to drive sustainable, profitable growth and top-tier shareholder returns over the long term. We navigated a challenging and evolving consumer and operating environment in fiscal 2025, making important changes to adapt to the changing environment, and put our business on a path back to growth. We increased investment to bring consumers greater value, which strengthened our volume performance as we exited the year. In fiscal 2026, our top priorities are to return North America Retail to volume growth, accelerate North America Pet growth with an expanded portfolio, and drive efficiencies to reinvest in growth. We plan to drive another strong year of HMM cost savings, allowing us to reinvest in exciting growth opportunities to meet evolving consumer needs. |
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Driving Long-Term Shareholder Value In fiscal 2025, we delivered on our updated guidance, highlighted by generating industry-leading HMM cost savings and exceeding our free cash flow conversion target, achieving a 97% conversion rate. In fiscal 2025, we returned more than $2.5 billion to shareholders through dividends and share repurchases, and our board recently approved a 2% increase to our dividend, underlining our commitment to driving strong returns for our shareholders over the long term. Committed to Standing for Good We continued to work towards our goals of reducing our absolute greenhouse gas (“GHG”) emissions by 30% by 2030 and achieving net zero GHG emissions across our full value chain by 2050. As an industry leader in regenerative agriculture, we are committed to advancing 1 million acres of regenerative agriculture in our supply chain by 2030 and have currently enrolled more than 600,000 acres into our program. We are deeply committed to the communities where we live and operate and from which we source our ingredients. Our philanthropic partnerships and employee engagement aim to build strong and resilient communities.
| Notice of 2025 Annual Meeting of Shareholders | 5 |
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