Sara Lee Corp. provided an update on its separation into two publicly traded pure-play companies at the Deutsche Bank Global Consumer Conference in Paris, France.
Jan Bennink, executive chairman, and Marcel Smits, CEO, both noted that the separation is progressing well, with key work underway to realize cost-saving opportunities and address new company structures. Bennink also stated that the decision had been made for Sara Lee to spin off its International Coffee and Tea business, rather than spinning off the North American business.