U.S. consumer good maker, Sara Lee, is seeking to split into two publicly traded companies early next year, The Wall Street Journal reports. The Illinois-based company will divide the business into a North American food business, anchored by its meats products brands and an international beverage and bakery business, focused around European coffee, adds Financial Times. Sara Lee named Marcel Smits, who has been serving as interim CEO as its permanent CEO. C J Fraleigh, who currently heads up Sara Lee’s North America business will be named CEO of the new North American retail and food-service business upon completion of the spin-off.
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