Brenda Barnes, CEO of Sara Lee, Steps Down After Stroke

Brenda Barnes, the chief executive officer of food giant Sara Lee Corporation, said on Monday that she is stepping down as CEO and chairwoman of the company.

Barnes, 56, said that she needs to focus on recuperating after she suffered from a stroke, which prompted her to take medical leave on May 14.

In a statement, the company's board of directors said that they have begun searching for a new CEO and chairperson, and considering both internal and external candidates.

Barnes became CEO in 2005 and embarked on a restructuring of the company, which is the maker of Ball Park Franks, Jimmy Dean sausage products, and Rainbo Bread as well as Sara Lee's own baked goods products.

Marcel Smits will take over her position, serving as interim CEO. James S. Crown, who serves as an independent director, stepped in as chairman of the board when she took medical leave and will remain so in the interim.

“We fully support Brenda's decision to step down as chairman and CEO so she can devote all of her time and energy toward improving her health," Crown said. "We will conduct a thorough process to identify a CEO successor in a timely manner, and look forward to sustaining the momentum begun under Brenda's leadership."

Barnes also resigned from Sara Lee's board of directors and will not be eligible for reelection.

Bloomberg wire service reported that during the past six quarters, Sara Lee's sales have either dropped or idled, something Barnes' successor will have to deal with in the wake of her absence.

Erin Swanson, an analyst with Morningstar, told ABC that Sara Lee will not experience a major strategic overhaul in the near future.

“We don't anticipate a change in Sara Lee's strategic direction over the near term," Swanson told the network. "In terms of who they appoint to lead Sara Lee, I think it's too early to tell."









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