Eric Sprunk
GENERAL MILLSAbout Eric D. Sprunk
Eric D. Sprunk (age 61) is an independent director of General Mills, Inc. and has served on the board since 2015; he is a certified public accountant and the board-designated audit committee financial expert, reflecting deep operating, finance, and global management experience, including as Chief Operating Officer of NIKE, Inc. (2013–April 2020) and prior senior roles across merchandising and product, plus early-career public accounting at Price-Waterhouse (1987–1993) . He currently chairs the Audit Committee and serves on the Corporate Governance Committee, underscoring board oversight responsibilities in financial reporting, risk management, ethics/compliance, and governance processes . All non-employee directors at General Mills are independent under NYSE standards; the board conducts executive sessions of independent directors at each board meeting to reinforce independent oversight .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| NIKE, Inc. | Chief Operating Officer | 2013–Apr 2020 | Oversight of manufacturing, technology, sourcing, sales, and procurement; perspectives on product innovation and development . |
| NIKE, Inc. | VP Global Footwear | 2001–2009 | Global product leadership; brand and innovation input to consumer markets . |
| NIKE, Inc. | VP Merchandising & Product | 2009–2013 | Merchandising/product strategy supporting innovation and market execution . |
| NIKE, Inc. | Regional GM, NIKE Europe Footwear | 1998–2000 | Regional general management; international operating insight . |
| NIKE, Inc. | VP & GM, Americas | 2000–2001 | Regional commercial leadership . |
| Price-Waterhouse | Certified Public Accountant | 1987–1993 | Accounting/financial expertise foundational to audit chair role . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Universal Music Group N.V. | Director | Current | Current public company directorship . |
| Bombardier Inc. | Director | 2021–2024 | Prior public company directorship . |
| Nordstrom, Inc. | Director | 2023–2025 | Prior public company directorship . |
Board Governance
- Committee assignments: Audit Committee Chair; Corporate Governance Committee member; designated audit committee financial expert (SEC definition) .
- Committee activity: Audit Committee met seven times in fiscal 2025; Corporate Governance Committee met four times .
- Attendance: All directors attended ≥75% of aggregate board/committee meetings; the board met eight times in fiscal 2025; all then-serving directors attended the 2024 Annual Meeting .
- Independence and structure: All non-employee directors are independent; independent directors meet in executive session at each board meeting; robust Lead Independent Director role supports oversight .
- Board service limits: Directors capped at four total public company boards; audit committee members generally capped at three audit committees; nominees reviewed for capacity to serve effectively .
Fixed Compensation
| Component | Fiscal 2025 Amount | Detail |
|---|---|---|
| Annual retainer (cash or stock election) | $100,000 | Standard non-employee director retainer . |
| Audit Committee Chair fee | $25,000 | Chair premium; other audit members receive $5,000 (not applicable to chair) . |
| Total fees earned (Sprunk) | $125,000 | Reported Fees Earned or Paid in Cash . |
| Meeting fees | None disclosed | No per-meeting fees; retainers paid quarterly; cash or stock election available . |
| Deferred compensation election | Available | Directors may defer retainers/RSUs; returns track selected funds or GIS stock performance; earnings not above-market . |
Performance Compensation
| Equity Instrument | Grant Date | Shares/Units | Grant-Date Fair Value | Vesting/Other |
|---|---|---|---|---|
| RSUs (annual director grant upon re-election) | Sep 24, 2024 | 2,441 | $180,073 | Generally vest at next annual meeting; dividend equivalents only if units vest; forfeiture if leaving board pre-vesting . |
| Equity award basis | Sep 24, 2024 close | — | $73.77/share | RSU value computed at NYSE close; standard for director annual grants . |
Directors do not receive annual cash bonuses, stock options, or performance share units; director equity is time-based RSUs aligned to shareholder returns via vesting at the next annual meeting with dividend equivalents credited only upon vesting .
Other Directorships & Interlocks
| Potential Interlock/Conflict Area | Observation |
|---|---|
| Related-party transactions at GIS | None disclosed for Sprunk; the only related-person transaction noted involved compensation to a former executive who is the spouse of another officer (Ms. Melendez), approved under policy . |
| Supplier/customer overlaps | Not disclosed; board policies require review of affiliations and continued independence of directors . |
| Board service capacity | GIS policy limits public boards to four; audit committee service to ≤3; nominees reviewed and determined able to serve effectively . |
Expertise & Qualifications
- CPA with senior finance roles; designated audit committee financial expert; accounting/financial management expertise per SEC/NYSE .
- Senior executive leadership in global consumer products; operating expertise in manufacturing, technology, sourcing, sales, and procurement; innovation/product development and marketing/e-commerce experience .
- Global/regional management across Europe and the Americas; governance expertise via multiple public boards .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial ownership (shares/units) | 27,995 (includes deferred stock units) . |
| Unvested RSUs at fiscal year-end (F2025) | 2,441 (for each independent director) . |
| Percent of class | * (less than 1%) . |
| Hedging/pledging | Prohibited for directors/officers . |
| Director stock ownership guideline | 5x annual cash retainer; all independent directors met/exceeded as of July 31, 2025, except a 2024 joiner (not Sprunk) . |
Governance Assessment
- Board effectiveness: As Audit Chair and financial expert, Sprunk anchors oversight of internal controls, audit quality, ERM, ethics/compliance, and cybersecurity program updates; the audit committee met seven times in F2025, and independent directors hold executive sessions at each board meeting—signals robust governance and risk oversight .
- Independence & engagement: He is independent under NYSE rules, with the board reporting strong attendance and executive sessions; external board roles appear within GIS service limits, and no related-party issues are disclosed for him—limited conflict risk .
- Pay alignment: Director pay uses a modest cash retainer plus time-based RSUs vesting at the next annual meeting, with dividend equivalents only upon vesting; this aligns director interests with shareholders without performance gaming, and he meets the 5x retainer ownership guideline—positive alignment .
- RED FLAGS: None disclosed specific to Sprunk (no related-party transactions, no hedging/pledging, no attendance shortfall); monitor aggregate external board commitments against GIS limits and any audit committee overlaps to ensure capacity remains within policy .