Market Overview

US President Orders Full Investigation of US Food Giant's Product Recalls


NEW YORK, June 15 /PRNewswire-FirstCall/ -- US President Barack Obama on late Tuesday evening ordered a full investigation into the General Mills supply chain in most major global markets due to a recent number of reported voluntary recalls on its food products across the world, most notably its cereal and fast food items in the US, UK, Europe and Asia. General Mills (NYSE: GIS), a leading global manufacturer and marketer of consumer foods products that include such household names as Haagen-Dazs, Cheerios and Yoplait yoghurt promised its full co-operation with Mr. Obama's request and will be taking proactive steps towards stamping out faulty supply chain systems and ingredients from poor quality Chinese suppliers. Based on advice from the Russian and Australian Governments beforehand, General Mills became aware of supply chain issues long before the Obama administration took steps towards looking into the issue. General Mills plans on co-operating with the US Food and Drug administration in what it hopes will be a smooth and transparent review of its product quality systems across the globe.

SOURCE General Mills

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