Sara Lee Corp. , the maker of Ball Park hot dogs and Senseo coffee, said Brenda Barnes is resigning as chairman and chief executive officer, focusing on her health after taking leave in May to recover from a stroke.
Sara Lee Corp. climbed the most in almost two years in U.S. trading after the New York Post said the maker of Jimmy Dean breakfast foods rejected a $12 billion unsolicited takeover offer from KKR & Co.
Sara Lee Corp. ’s board plans to make a decision about whether to sell or break up the company by the end of the month and hasn’t received a new takeover offer from Brazil’s JBS SA , according to a person familiar with the matter.
Don’t be fooled by CEO exits at Hewlett-Packard Co., General Motors Co. and Sara Lee Corp. this month. Chief executive officer turnover has fallen to a five- year low and may not rise until the economic outlook clears and stock-option values rebound.