Bush picks Kellogg CEO to be Commerce boss [View All]

[Freddie Stubbs]

Associated Press
Nov. 29, 2004 09:00 AM

WASHINGTON - President Bush on Monday chose Carlos Gutierrez, chief executive officer of the Kellogg Co., to be secretary of Commerce, administration officials said.

If confirmed by the Senate, Gutierrez would succeed Commerce Secretary Donald Evans, a Texas confidant of Bush's, who announced his resignation shortly after the Nov. 2 election.

Gutierrez, whose family fled Cuba in 1960 when he was 6, joined Kellogg in 1975. Known for having a strong work ethic and a seemingly endless stream of ideas, he worked all over the world for the company before being promoted to president and chief operating officer in June 1998.

Last year, Gutierrez received about $7.4 million in total compensation, including salary, bonus and incentive payments, according to a Kellogg proxy statement. He owns or has option rights to 2 million shares of company stock.

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