Wintrust Business Minute: Kellanova CEO in line for $81 million payout after merger with Mars

Wintrust Business Lunch

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

The CEO of Chicago-based Kellanova will get a big payout after a merger with the Mars candy company. Mars announced plans this week to buy Kellanova, the Kellogg spinoff, for $36 billion. Crain’s reports Kellanova’s CEO Steve Cahillane is in line for a nearly $81 million payout when he exits after the deal closes. He’s been CEO for just a short time — it’s only been a year since Kellanova split from Kellogg. During that period, the company’s net sales climbed 4% and the stock price increased 33%. Kellanova makes Cheez-It crackers, Rice Krispies Treats and Pop-Tarts. Mars makes Snickers and other candy bars.

Also, Rivian Automotive has reportedly paused production of electric commercial vans for Amazon. Listen for more below:

https://serve.castfire.com/audio/5801281/5801281_2024-08-16-194621.64kmono.mp3

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