• Kellogg Co. said yesterday that Steven Cahillane, a former Coca-Cola and Anheuser-Busch executive who most recently was CEO at Nature’s Bounty, is succeeding John Bryant as the company’s CEO.

Reuters writes that as Kellogg has struggled with falling demand, Bryant “ has cut jobs and sought to streamline production over the past four years to bolster profits. But his zero-based budgeting plan - which requires expenses to be justified for each new period - has also seen sales decline steadily since the start of 2015.”