Kellogg Chief Plans to Retire at Year-End

Kellogg Co. Chairman and Chief Executive William E. LaMothe said Monday that he plans to retire at the end of the year if the company’s board approves.

“The rumors are that I’ll be retiring at the end of the year, and if the board of directors agrees with that plan, then that should come off on schedule,” LaMothe said after a speech to the Economic Club of Grand Rapids. Mich. “I am very hopeful that they will see fit to make an announcement at the proper time.”

LaMothe, who became the cereal giant’s fourth chairman 11 years ago, had said at the company’s annual meeting in April that his career was winding down. He turns 65 next month. He started with the company in 1950 as a retail sales representative.

Asked about his probable successor, LaMothe said: “It’s pretty obvious that President and Chief Operating Officer Arnold G. Langbo is the chief candidate to step into my shoes. He’s a 34-year veteran of our company . . . and I personally know he would be an outstanding candidate.”

Langbo was appointed president and chief operating officer in December after the resignation of Horst W. Schroeder.