A graduate of DePauw University has been named chief executive officer of Minnesota-based General Mills Inc. (NYSE: GIS). Jeffrey Harmening, who was an economics major and Management Fellow at the university, will begin his new role June 1.

Harmening, who graduated from DePauw in 1989, has been with the company for 23 years, most recently serving as president and chief operating officer. He succeeds Ken Powell, who has served as CEO since 2007.

"I am honored to take the helm of General Mills at such an important point in its history," Harmening said in a General Mills press release. "Building on the legacy of those that have led this great company before me is an exciting challenge and one I do not take on alone. General Mills' employees are singularly focused on driving growth and returns for the long term, and it will be a privilege to help them reach that goal."

Harmening is also a member of the DePauw Board of Trustees. He is not the first DePauw alumnus to serve in an executive role at General Mills. Steve Sanger, who graduated from the university in 1968, served as the company's president from 1995 to 2006.