Steve Sanger '68 Honored as 'Champion' of Minority-Run Businesses
June 9, 2008
June 9, 2008, Greencastle, Ind. - Stephen W. Sanger, former chairman and chief executive officer of General Mills and 1968 graduate of DePauw University, is the Metropolitan Economic Development Association (MEDA) "Champion of the Year." MEDA is a Minneapolis-based nonprofit agency which provides business consulting and financing to companies owned or managed by minorities. Sanger will be honored for his longtime support to the minority business community at a luncheon tomorrow, reports the Minneapolis Star Tribune.
"Throughout the entire time that Steve Sanger served as CEO of General Mills, and 14 years on MEDA's advisory board, he championed MEDA and its mission to help entrepreneurs of color succeed," says Yvonne Cheung Ho, MEDA's president and CEO. "He instilled in his employees an appreciation for diversity in thought, in employees, in suppliers, in ways to build the company and in ways to help the community. Through many Executive Development Luncheons, he showed MEDA clients the human side of leadership, leaving them with a renewed awe for his personal leadership skills, perceptions and business savvy."
Ho continues, "In 1996, when he stunned our annual meeting audience with the promise to double General Mills' spend with diverse suppliers, he set the bar high and challenged others to match the effort. Steve Sanger is truly a role model for business and community leadership and we thank him for being part of MEDA's history."
Learn more about the MEDA awards at the newspaper's Web site.
Steve Sanger led General Mills for 12 years, stepping down as CEO last September and relinquishing the chairman's role last month. His firm was listed #4 among "Top Companies for Leaders" by Fortune magazine last fall, and was among the nation's top 50 firms for diversity, according to a survey by DiversityInc magazine. He was the recipient of a 2004 Diversity CEO Leadership Award.
Under Sanger's leadership, General Mills' sales doubled to more than $12 billion in fiscal 2007 and earnings tripled to more than $1.1 billion. The company also grew its international sales tenfold and purchased food giant Pillsbury.
At a November 19, 2002, reception that Sanger hosted for DePauw at General Mills, the CEO noted, [Download Video: "Lessons Learned at DePauw" 521KB] "What I learned about leadership, what I learned about my interest in marketing came from DePauw." Read the complete story by clicking here.Back