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It's quite a leap from breakfast cereal to cheese crackers and vegetarian sausages, but food giant Kellogg's has worked hard to adapt to a changing marketplace. Its core market of breakfast cereals came under attack in the 1990s from both competitors and consumers, and in 1999 Kellogg's was overtaken as America's top breakfast food company by arch rival General Mills. This forced the group to acknowledge that it had been outflanked in the fiercely contested breakfast market, and it set about regaining its stride. Careful attention to core brands and a barrage of high quality, premium priced cereal variants helped Kellogg's regain its #1 position in the US by 2003, although the two companies remain fierce competitors. At the same time, the group set about broadening its portfolio with a range of snacks and convenience foods. More recently, though, recessionary pressures and another wave of changing consumer tastes have created major new challenges in the traditional cereal sector. This prompted Kellogg's to make a bold new move into the broader savoury snack market in 2012 with a deal to acquire Pringles from P&G.
Who handles Kellogg's advertising? Click here for agency account assignments for Kellogg from adbrands.net. The group declared total global advertising expense of $735m in 2016. In the US, Kantar (in Advertising Age) reported measured expenditure of $369m for 2016, out of an estimated total of $477m. Biggest spending brands were Special K (measured spend $59m), Pop Tarts ($40m), Raisin Bran ($38m), Frosted Mini-Wheats ($38m) and Eggo ($34m).
Kellogg's main competitors in cereals are General Mills and Post/Weetabix, Cereal Partners worldwide, PepsiCo and Associated British Foods. In the cookies and crackers sector, Kellogg's main competitors are Mondelez and Campbell's Pepperidge Farm. See also Food Sector index for other companies and brands
Kellogg's is the world's #1 producer of cereals and a leading convenience foods manufacturer. The company has factories in 20 countries, and distributes to more than 180. It divides its business into three segments of Cereals, Snacks and Natural & Frozen Foods. The main Kellogg's Cereals range includes almost 40 separate brands and spin-offs, and accounts for more than half global group revenues. Combined global revenues from retail cereals hit a record $6.73bn in 2011, but have slipped back each year since then, mainly as a result of declines in the US, reaching a new low of $5.44bn in 2016. The company unveiled a wave of new products in 2016 designed to rebuild sales, but to little effect.
The Kellogg's range includes well over 40 separate brands and their spin-offs, divided into two groups of kids' cereals and family cereals. The family range is led by international brands such as the group's largest global brand Special K, supported by All-Bran and Corn Flakes, as well as Smart Start (known as Body Start in some countries), Crunch, Mini-Wheats, Country Inn, Crispix, Fruit Harvest, Extra (in Europe), Guardian (mainly in Asia) and new launch DayVita, introduced in Germany and Austria in 2006 (and known in other markets as OptiVita). Crunchy Nut, a very successful Corn Flakes variant marketed in the UK since 1980, is slowly being introduced in other countries, and arrived in the US for the first time at the beginning of 2011. It is itself available in several variant forms including Crunchy Nut Clusters, Crunchy Nut Bites and more recent Crunchy Nut Oat Granola. The group also markets cereal and snacks under the Cinnabon brand under license from the separately owned bakery chain of the same name. Special K spawned a line of Cracker Chips bagged snacks in the US from 2011, and slowly being rolled out in other international markets, including the UK from 2012. A range of Special K breakfast mix is set for launch in the US in 2016. The Special K brand has also been rolled out into other areas including low-calorie breakfast shakes. An important new segment initiated in 2012 (originally by rival Kraft) was breakfast biscuits as opposed to cereal. Kellogg's entered this segment under the existing Nutri-Grain snack brand.
The Kids portfolio houses Frosted Flakes (known as Frosties in the UK or Zucaritas in Latin America), Rice Krispies, Coco Pops (also known as Choco Krispies), Mini Max, Apple Jacks, Froot Loops, Corn Pops and Sucrilhos (in Latin America) and more. Local brands include Smacks in several European markets, and Toppas. New brand Tresor launched originally in France in 2008, was expanded to the UK the following year as Krave, and has gradually been extended to other markets as well under one or other name. Local adaptation of brands also applies to their marketing. For example, the "Snap, Crackle & Pop" of Rice Krispies is itself translated in each local market into a more appropriate local onomatopoeic, including "Pif! Paf! Pof!" in Sweden, "Klap! Knetter! Kraak!" in South Africa or "Pim! Pum! Pam!" in Mexico.
New US launches in 2016 included Jif-branded peanut butter and jelly cereal (under license from Jif owner Smucker), Kellogg's Smorz with graham cracker pieces and marshmallow; as well as three separate limited edition kids' cereals co-branded to Disney's new Captain America, Frozen and Finding Dory movies.
In 2008, the group acquired Australian ready-to-eat cereal manufacturer Speciality Cereals, whose brands include Vogel's, Wild Oats and Cerevite. Kellogg's also owns the Kashi natural cereal range, which comes in a number of branded varieties, including Mighty Bites, targeting the kids market. This group also contains the company's single biggest individual brand in the US, Pop-Tarts, with sales of well over $500m. This range of toasted filled snacks was expanded in 2002 to include Snak Stix and Yogurt Blasts, both aimed at a teenage market. Another sideline is US-based natural snack mix company Bear Naked, acquired in 2008.
After a worrying slump during the late 1990s, which led to the company losing its position as America's biggest cereal manufacturer to General Mills, Kellogg's fought back successfully in 2002 and 2003, overtaking its rival once again. However, competition remains fierce, and Kellogg's share was dented after 2007 by the economic squeeze and the growth of lower-priced private label brands. There has also been the emergence of alternative morning foods, such as breakfast biscuits and yoghurts. In 2016, according to IRI figures (52 weeks to Jan 2017, all retail channels, Grocery HQ), General Mills retained the edge with 30.0% value share, equivalent to sales of $2.594bn, marginally ahead of Kellogg's 29.9% and $2.585bn. Post was some way behind at 18.9%. Less than 8% was contributed by private label brands, 6.4% from PepsiCo's Quaker division and the rest by smaller manufacturers. Kellogg's top brand was Frosted Flakes, but a decline in sales pushed it down to 3rd place behind rivals Honey Nut Cheerios and Honey Nunches of Oats. Froot Loops, Frosted Mini Wheats and Raisin Bran were also among the Top Ten, but not lead global brand Special K, which slipped out of the US leaderboard in 2014.
Canada is virtually the only global market where Kellogg takes second place behind PepsiCo's Quaker, with an estimated 29% (to Quaker's 43%) according to Datamonitor figures for 2010. Kellogg's remains the clear leader in all European markets, with share of 40% or more in the UK, France and Spain according to the company's own figures. In some developed countries, including Italy and Ireland, Kellogg's claims well over 50% local share, rising to 60% or more more in the Benelux region as well as developing markets such as India and Latin America. Germany is perhaps its most vulnerable developed market, where it has the #1 position but with share of only 20%, although that figure is still more than twice closest rival Nestle. In Mexico, one of the company's most stable markets, Kellogg's claims an impressive 70% share, while in Australia share is now around 44% (according to Euromonitor). A separate set of figures for 2011 from Datamonitor offered a different view, giving Kellogg's global share of 35% by value and 32% for Europe. Local shares in key local markets included 41% in Japan, 34% in the UK, 39% in France, 19% in Germany, 55% in Italy and 49% in Spain.
In the US, the company's biggest brand is Frosted Flakes, followed by Mini Wheats and Froot Loops. (General Mills' Cheerios remains the category leader). Yet the company's strong collection of other products delivers overall mastery of the sector. The group launched a new assault on Cheerios in 2005 with the launch of Frosted Flakes spin-off Tiger Power, targeting the children's market, but this was greeted with lower than expected sales. The product was withdrawn at the end of the year.
Towards the end of 2006, the company began extending the Special K brand into a variety of other diet-friendly products including protein-enriched mineral water and snack bars. As a result, it has overtaken Corn Flakes to become the company's best-selling product in the UK, as well as several other markets. In 2007, Special K even pushed Weetabix out of the UK #1 spot for the first time in almost a decade. However it had lost that lead again by 2009, and slipped into 3rd place in 2014 behind fast-growing stablemate Crunchy Nut. All the company's main products suffered a sharp decline in sales in 2015 and 2016 as consumers abandoned the traditional sit-down breakfast. For the year to Oct 2016 (Nielsen in The Grocer), sales of Crunchy Nut fell by 5% to £74m, while Special K slumped almost 10% to £59m. Coco Pops and Corn Flakes were #4 and #5 respectively with sales of £52m and £47m. Rice Krispies came in at #8 (£39m). Also among the Top 20 were All-Bran (£27m), Krave (£22m), Frosties (£21m), Fruit & Fibre (£17m) and the Variety multi-pack (£16m). IRI figures for the year to Nov 2014 (The Grocer) estimated combined sales of £465m, equivalent to 28% share by value of the £1.66bn cold & hot cereal sector (and 35% of cold-only).
Kellogg's virtually invented the breakfast cereal sector in the first place, and its brands became an intrinsic part of American and British family life between the 1940s and the 1970s. However during the 1980s and 1990s, consumers underwent a wholesale change in their breakfast habits, as the work environment became more demanding. Gradually the fast-food mentality which had already come to dominate the other meals of the day began to eat into breakfast. Between 1994 and 2001 cereal sales in the US fell by around 12%, or $1bn. Cereals were perceived as too labour-intensive, requiring a bowl, fresh cold milk and a spoon.
Instead consumers began to select breakfast foods which were quicker or easier to eat on the go. These included the company's own Pop-Tarts (first introduced in the 1960s) and their later innovation Nutri-Grain bars. Notably, during the 1990s, the company made a concerted effort in its advertising to persuade its audience that cereals were a nutritious snack at any time of day, not just breakfast, picturing adults enjoying a bowl of cereal at bedtime. At the end of the 1980s, Kellogg's had a commanding share of around 40% of the US breakfast cereals market. By the end of 2001, Kellogg's share of the US cereal market had slipped to below 32%, falling behind General Mills by almost one percentage point.
Yet another threat, especially in the UK, came from the huge surge of private label brands developed primarily by supermarket operators keen to earn their own slice of this lucrative and comparatively straightforward market. In the UK, private label cereals now account for well over a quarter of the market (around 8% in the US). In 1996, Kellogg's went to war with leading UK chain Tesco over the lookalike packaging of the retailer's own-label cereals. (Tesco finally backed down). More significantly Kellogg's even broke with its long-standing tradition of refusing to produce private label cereals for retailers. In 2000, in order to win shelf space in fast-expanding German had discount supermarket Aldi, Kellogg's agreed to supply five cereals to be sold under the in-store Gletscher Krone brand. It didn't last. In another embarrassing turnaround the group later announced it would not continue the arrangement at the end of the initial contract period, but would concentrate instead on marketing its own brands.
Other factors also contributed to the decline. The British eat more cereal than any other country - 17 pounds in weight per head of population per year, compared to the US's 10 pounds per head. But here too Kellogg's sales took a knock during 1998 after the company decided to increase the height of its boxes to bring UK packaging into line with the rest of Europe. British shoppers complained that the new boxes wouldn't fit in kitchen cupboards. As a sign of the damage this must have caused to sales (no figures were revealed) Kellogg's were forced to revert to the old size. Another misjudgement was the decision to rename established cereal Coco Pops as Choco Krispies in 1998 (in line with other European markets). There was a huge public outcry over the change. In an attempt to turn the furore to its own advantage, the company asked consumers to vote between the two names in a TV and internet campaign costing around £1.5m. In April 1999, one million consumers - 92% of the ballot - voted to keep the old name.
Yet ultimately Kellogg's was able to counter this steady erosion of its position. The company's first reaction to the slide in cereal sales had been entirely defensive: price cuts, bigger boxes, more raisins, two-for-one offers. But arguably these only served to cheapen the product, without benefiting margins. After a comprehensive rethink of its approach, the group introduced its Volume To Value strategy in late 2000. This began with a chilling acknowledgement of the fact that Kelloggs was no longer the #1 brand defending its position, but now the #2 seeking to regain the lead. As a result, Volume To Value abandoned defensive attempts to maintain share with deep discounting in favour of an aggressive policy of adding value and maintaining or even increasing price.
First of all, promotional activity got a healthy boost, with more in-pack promotions, such as toys and even computer games, for existing brands. But equally important was a plethora of new brands. The group signed a lucrative licensing deal with Disney to introduce a number of kids cereals such as Disney Magix and Mud & Bugs. Also targeting the kids market were limited edition branded cereals, tieing in to major movie releases, including Spider-man, X-Men and Scooby-Doo, as well as a range of limited edition cereals linked to popular Cartoon Network characters including the Powerpuff Girls. Meanwhile the grown-up audience was tempted with added value extensions to existing brands, for example, Special K Red Berries, with freeze-dried berries or new launch Special K Vanilla Almond. More importantly, many of these new brands were priced at as much as 25% above existing packs. As a result, sales began to pick up again.
The experience of dealing with this shift in habits has served the group well since. In 2003 and 2004 two new consumer trends swept through the market, affecting sales. First was the rush towards low-carb diets, followed by heightened concerns over childhood obesity. Kellogg's tackled the first trend with a small range of low-carb cereal offerings. The second, arguably a longer lasting and more valid concern, was countered by the introduction of reduced sugar products. Kellogg's launched variants of Frosted Flakes and Froot Loops with a third less sugar in spring 2004.
Performance in cereals faltered during the 1990s, as consumers shifted allegiance away to simpler snack items, easier to eat "on the go". As a result Kelloggs began to try building a portfolio of non-cereal convenience food brands. After several other brands failed to chime with consumers, the group launched its biggest ever acquisition in 2001, of Keebler Foods, the second largest cookie and cracker maker in the United States (behind Mondelez). According to IRI figures for 2016, it had just 7% of the cookie market (behind Nabisco's 39%), but 27% of the cracker segment (to Mondelez' 33%). Cheez-It overtook Nabisco's Ritz in 2011 to become the top-selling US cracker, with sales of $686m in 2016. Keebler Club and Townhouse crackers are also among the top 10 brands, with combined sales of $426m. The Keebler cookie range includes Chips Deluxe, Ready Crust, Famous Amos, Plantation, Murray, Austin and licensed brands Rumbly Grahams (using Disney's Winnie The Pooh character) and Scooby Doo (licensed from Time Warner's Cartoon Network). The company is also a leading licensed supplier of Girl Scout Cookies, and is the exclusive licensee in the US for United Biscuits' Carr's Table Water crackers from the UK. In 2008, Kellogg's acquired Mother's Circus Animals cookies. In 2019, however, Kellogg's agreed to sell the bulk of this Keebler division to Ferrero for $1.3bn. It is holding on to a small collection of brands from the portfolio, notably Cheez-It crackers.
Keebler also brought with it a powerful direct delivery network into stores, and Kelloggs used this to build up a large range of what it describes as "portable snacks", mainly confectionery bar spin-offs from its main cereal range. These also tend to be divided into kids brands and family brands. The latter group is led by Nutri-Grain, a successful range of fruit-filled snack bars (also known in some markets as NutriDia). It has been joined by other adult snacks, including FiberPlus bars in 2010 and Special K Cracker Chips in 2011. However the kids range is more extensive, featuring cereal filled confectionery bars based on many of its leading packet cereals, such as Rice Krispies Treats, and Corn Flakes, Rice Krispies and other "milk & cereal" bars. Special K has provider the platform for a range of "better for you" cracker chips and crisps. The group dominates the small but significant cereal snack bar market in the US, with combined sales of $545m in 2016, equivalent to over 51% share (IRI). Rice Krispies Treats and Nutri-Grain between them have over 25% share.
The company has also experienced success in its venture into fruit snacks in the UK, with the launch of Real Fruit Winders in 2001. These were joined in 2003 by a juice-based snack, Screamin' Fruit Squidgers, containing a blend of fruit pulp and juice. A similar form of fruit snack to Winders launched in the US in early 2004 as Fruit Twistables, followed by Stretch Island Fruit Leather and FruitaBu healthy fruit chips.
In February 2012, Kellogg's took many observers by surprise with the unexpected acquisition of savoury snack brand Pringles from P&G. A previous deal for that brand to be acquired by Diamond Foods collapsed as a result of an accounting scandal at the smaller company. Kellogg's paid just under $2.7bn for Pringles, its two manufacturing plants in the US and Belgium and 1,700 employees. Retail snacks contributed a total of $6.7bn in revenues in 2015. Another acquisition, in 2017, was the Rxbar range of niche protein bars, for which Kellogg's paid a lavish $600m.
The company has also expanded its international footprint with a series of deals in developing markets. These include Russian cracker, biscuit and breakfast cereal producer United Bakers Group and China's Navigable Foods. Other significant international acquisitions were Egypt's Bisco Misr and Mass Food Group, acquired in 2014 and 2015, and respectively that country's leading biscuit and leading cereal companies. Brazilian food company Parati, a maker of biscuits and pasta, was acquired in 2016 for $430m, and the group also established two joint ventures to develop snacks and breakfast foods in West Africa.
Another division houses a selection of natural, organic or frozen meal solutions. Morningstar Farms is the best-selling US vegetarian brand, supported by Worthington and Loma Linda. The group also leads the frozen breakfast segment with Eggo frozen waffles and pancakes, and markets. These businesses are grouped with Kellogg's groupwide speciality retail division, handling vending machine sales and foodservice. Combined sales from frozen foods totalled $956bn in 2015, almost all of it from North America.
After several years of flat sales in the late 1990s, group performance picked up dramatically in the early 2010s. Revenues hit a high in 2013 of $14.79bn, up 4% as a result of the first full-year contribution from Pringles. Net income almost doubled to $1.81bn, almost entirely as a result of pension-related accounting adjustments. Excluding exceptional items, internal net sales were flat while net income edged up by just 1%.
However, 2014 proved a disappointing year as performance faltered on several fronts, but especially in North America. Sales of morning foods fell by almost 6% as a result of the increasing shift away from traditional cold cereals to "On The Go" alternatives. Traditional snacks also slumped, though by just 2.4%, and frozen foods by just under 2%. Luckily, those declines were partly offset by growth in Latin America and Asia. Combined revenues slipped by 1.4% to $14.58bn. This time, bottom line was dented by negative pension-related accounting adjustments, causing net income to plunge by almost two-thirds to $632m.
The impact of currencies and Venezuela's economic problems left their mark on results for 2015, with revenues slumping 7% on a reported basis to $13.53bn, while net income slipped another 3% to $614m. US morning foods contributed revenues of $2.99bn, down almost 4% for the second consecutive year; US snacks fell by 3% to $3.23bn. However, despite their smaller size by revenues, morning foods are considerably more profitable, with operating income of $474m to snacks' $385m.
There were further declines in 2016, as revenues slipped by 4% once again to $13.01bn. That was partly the result of the deconsolidation of the group's ailing Venezuelan subsidiary as well as currency headwinds from Europe, but its US business units were also down sharply year-on-year. Net income bounced back to $694m, but clearly the group faces challenges rebuilding topline. US morning foods contributed revenues of $2.93bn and US snacks slipped to $3.20bn. There was a modest increase in specialty foods to $1.21bn. The group's single biggest customer is Walmart, accounting for 20% of group sales in 2016, or $2.6bn.
Topline fell again in 2017 to $12.92bn, the first time since 2010 they have fallen below $13bn. The decline would have been even greater without a lift from Brazil's Parati Group, acquired mid-year. However attributable net income continued to rise, almost doubling to $1.30bn as a result of lower costs and expenses and a one-off $400m pension plan adjustment. Without exceptional items, the increase in operating profit was around 8% year-on-year. North America accounted for 67% of sales in 2017, or $8.7bn. Europe contributed 18% (or $2.3bn). Kellogg's biggest international market is the UK, followed by Mexico, Canada and Australia. The company still carries significant debt of over $8bn.
Revenues for 2018 rose 5% to $13.5bn as a result of acquisitions. On an organic basis, sales were flat year-on-year. Net income rose 7% to $1.34bn.
The biggest shareholder is the WK Kellogg Foundation, formed in 1930, which owns around 32% of the stock. One of the world's biggest charities, its goal is to help people to look after themselves. Another major shareholder is the Lund family, who sold their Sanka coffee business to Kellogg in 1927, and still retain around 12% of the company. Kellogg's also operates Cereal City, a theme park and museum on the site of the old sanatorium in Battle Creek.
Competition has always been part of Kellogg's daily diet. Most of the company's current rivals started their businesses as direct spin-offs from Dr John Kellogg's advocation of cold cereal as a health treatment (recounted in the semi-fictional account The Road to Wellville). Seventh Day Adventist Kellogg ran a fashionable sanatorium in Battle Creek, Michigan. Among his pronouncements was that his patients should only eat vegetables and grains, and avoid all alcohol, tobacco and meat. At the time, cold cereal was made from a laborious process of baking, crushing and soaking biscuits overnight to be eaten the following morning. The pioneer in this field was Henry D Perky who had developed the first prepared cereal in 1893, which he named Shredded Wheat. John Kellogg's younger brother William Keith Kellogg set out to invent a rival packaged cereal in a box. In 1894, he accidentally left a batch of wheat kernels out overnight. While trying to dry them out in a mangle the following day he discovered that the wet berries were flattened into manageable flakes. They then toasted these and packaged the resulting grains as Sanitas, which they sold to patients by mail order.
One of the sanatorium's patients, entrepreneur CW Post, tried to get John Kellogg to join him in a business producing a hot drink from the flakes. Shunning such vulgar commercialism, Kellogg refused, so Post set up in business himself at the other end of town. The drink he had tried to sell to Kellogg was launched as Postum in 1897. The following year he invented Grape-Nuts by adding grape sugar to the same grains. Supported by aggressive (and barely truthful) advertisements, Post's business was a huge and rapid success. By 1905, no less than forty other companies had set up in Battle Creek in search of the same goldmine.
Will Kellogg could see that his brother was losing control of their discovery, so he set up in business himself in 1906 as the Battle Creek Toasted Corn Flake Company, later the Kellogg Company. He added sugar to the grains, called them Corn Flakes, and marketed them as a breakfast cereal rather than a health food through a series of colour ads in popular magazine The Ladies Home Journal. By the end of 1906, Kellogg was selling 2,900 cases of Corn Flakes a day, and had overtaken Post. Dr John was offended by his younger brother's commercialism, even more by the fact that he felt Will was cheapening the reputation of his sanatorium. He took him to court to stop him using the Kellogg name in a case that rumbled on until 1920, by which time the company's enormous success made Will's eventual victory a foregone conclusion.
Will Kellogg had not stopped with his first product. In 1914, he invented a waxed paper bag to keep Corn Flakes fresh in the box, and then launched a series of other cereal products, including Bran Flakes (in 1915), All-Bran (1916) and Rice Krispies (in 1928). In 1924 the company opened offices in Australia, followed by England in 1938. Its UK office was established in the city of Manchester, where it remains. Almost 90 years later that factory is still the world's largest cereal manufacturing plant as well as one of Manchester's biggest employers. The company diversified over the years, acquiring various businesses around the world, including Sanka coffee in 1927 (most of these sidelines were sold off during the 1990s). The company launched its first non-cereal product under the Kellogg's brand in 1964, Pop-Tarts, and bought Eggo frozen waffles in the 1970s.
In the 1990s, the company appeared to lose its way, slow to keep pace with changing consumer tastes. Meanwhile a series of attempts to broaden the portfolio in the US met with failure. The company acquired Lender's Bagels in 1996 to give it an edge on the shift towards this new American breakfast favourite. However attempts to turn bagels into a global brand were a failure, and Lender's was sold on three years later to Aurora Foods at a substantial loss. In 1998 the company teamed up with Danone's US subsidiary to offer Breakfast Mates, a single serving of cereal with milk and a spoon for sale in the supermarket's refrigerated section. These also failed to catch on and were discontinued in 2000. In 1999 the company began testing a range of cholesterol-lowering foods in five states in the US. Marketed under the Ensemble brand, this selection of lasagnes, cookies and potato chips was designed to move Kellogg's firmly away from the breakfast market, while retaining the company's "Healthy Eating" strategy. The company was initially hoping for a national US rollout in 2000, followed by European launch. However, by mid-1999, plans for a full launch had been dropped following disappointing sales, and the entire range was cancelled by the end of the year.
Kelloggs continued to bolt on other purchases, including vegetarian business Worthington Foods at the end of 1999, and Kashi natural cereals in 2000. In Australia the group acquired the privately owned Jabuna-Surene convenience foods business, makers of Sunibrite baked convenience foods and the Be Natural line of fruit and nut bars. But the biggest purchase by far was Keebler Foods Company, acquired from Flowers Industries for $4.6bn in cash. Keebler greatly enhanced the group's presence in the snack market, and especially in non-supermarket outlets where it already operated a successful and efficient direct store delivery network.
In 2001 the company announced plans to join forces with Disney to market co-branded breakfast foods including cereals and waffles. The first products launched in early 2002 with mixed success. A set of co-branded promotions with Cartoon Network proved even more popular later in the year. In early 2005, Kellogg's chairman & CEO Carlos Gutierrez was appointed as President Bush's new Secretary of Commerce.
Last full revision 30th July 2017
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