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CHICAGO Sara Lee today disclosed a broad restructuring of its operations, including the appointment of a new CEO and the divestiture of its apparel and coffee businesses.
Brenda Barnes, who joined the company last June as president and chief operating officer, will take over as CEO, effective immediately. The former CEO, C. Steven McMillan, will continue as chairman until October 2005.
During that time, McMillan will focus on divestitures including the sale of its apparel brands in the United States, Asia and Europe.
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