Top Story

e4m_logo.png

Home >> International >> Article

International: Quaker Foods President Mary Dillon to replace Larry Light as McDonald’s global CMO

02-September-2005
Font Size   16
International: Quaker Foods President Mary Dillon to replace Larry Light as McDonald’s global CMO

President of Quaker Foods, Mary Dillon, has resigned and is expected to join McDonald’s Corp as successor to Chief Global Marketing Officer Larry Light, who is expected to leave the fast food company when his contract ends, according to executives close to the marketers. Announcements about the moves are pending, according to these executives.

Light has been McDonald’s top marketing executive since 2002 and is credited with re-igniting the restaurant company’s sales with an overhauled marketing plan and an “open” agency and creative strategy. His three-year term is due to expire on September 2, and insiders said that he likely would leave the company by year’s end.

He arranged with the fast food giant a two-and-a-half-year period of “continued employment” after he “ceases to be the chief marketing officer”, according to the company’s annual 10-K filing with the Securities and Exchange Commission.

According to the filing, Light will take an annual salary of $50,000 for the 30 months after his term ends, and his equity grants will keep vesting and can be exercised during that time.

Spirit of the agreement

“The spirit of the agreement was that I’d stay on for a minimum of three years and then we would discuss (my parting) towards the end of that period,” Light said in May, adding that the company would discuss his tenure over the summer.

Calls to Dillon and Light and their spokesmen weren’t immediately returned.

Dillon, 44, was elevated from Vice-President of Marketing to President last August, succeeding Polly Kawalek, who retired. An 18-year veteran at PepsiCo-owned Quaker, save a four-year term with Gardenburger, Dillon worked in marketing on a wide range of brands, from cereals and snacks to beverages, including Gatorade and Propel. She began her career as a marketing associate with Aunt Jemima in 1984.

Third PepsiCo exec to leave

Dillon is the third high-level executive to leave PepsiCo in the past four months. In May, Pepsi announced that Gary Rodkin, Chairman-CEO of PepsiCo Beverages and Foods North America, had resigned to pursue a CEO post.

Today, AdAge.com reported that Stephen Quinn, Frito-Lay’s Chief Marketing Officer, was leaving the PepsiCo unit to join Wal-Mart as Senior Vice-President, Marketing.

Short of a successful counter-offer for either executive, PepsiCo will be left with two senior positions to fill.

Source: AdAge.com

Tags

Kranti Gada joined the family business at Shemaroo in 2006 after a successful stint of over two years in marketing at Pepsi Co. She has been associated with the company for 12 years.

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing trails like GST, demonetization and being a part of the larger cultural space

Their strategy to educate the consumers to make well informed decisions at all stages has worked out well.

Bobby Pawar, MD, CCO - South Asia, Publicis India, talks about his idea of chilling out

Launches third phase of TVC campaign ‘Think it. Done’

Based in Mumbai, Usha has nearly two decades of experience in the Indian media and entertainment sector and will serve as a strategic advisor to H+K’s diverse portfolio of clients with a special empha...

Report based on media channel data in 96 countries and detailed findings from the world‘s key ad markets, which between them account for approximately two-thirds of the value of global advertising tra...