Paul S. Michaels, president of Mars Incorporated since 2004, recently informed the Mars board of directors of his plan to retire.
March 31/Hackettstown, N.J./Press Release -- Paul S. Michaels, president of Mars Incorporated since 2004, recently informed the Mars board of directors of his plan to retire on December 31, 2014. The company announced that Grant F. Reid, current global president of Mars Chocolate, has been named by the Mars board of directors to take over the office of the president on January 2, 2015.
"In his almost 11 years at the helm of Mars, Incorporated, Michaels has overseen a period of outstanding business performance and tremendous achievement. He also built up the talent of the company while strengthening the visible presence of our Five Principles -- Quality, Efficiency, Responsibility, Mutuality and Freedom -- in the way we operate," said Victoria B. Mars, chairman of the Mars board of directors. "It's because of his focus on nurturing leaders who are both talented and principled, that we have such a strong internal successor in the business. We are proud and excited that Grant, a 26-year veteran of the business, and a member of the Mars Leadership Team since 2007, will be our next president."