MINNEAPOLIS — General Mills, Inc. is making several changes to its leadership team following the announcement that Donal L. Mulligan, chief financial officer, will retire next year.

Mr. Mulligan, who has been c.f.o. since 2007, will move to an advisory role effective Feb. 1, 2020, and will retire June 1, 2020. Kofi Bruce, currently controller, will be promoted to vice-president of financial operations effective Sept. 1, 2019, and will succeed Mr. Mulligan as c.f.o. in February 2020.

Mr. Bruce has spent a decade at General Mills in a variety of roles, including treasurer, vice-president of finance for the U.S. yogurt operating unit and vice-president of finance for the convenience stores and food service segment.

“Don has been an incredible asset to General Mills for more than 20 years,” said Jeffrey L. Harmening, chairman of the board and chief executive officer of General Mills. “During his tenure as c.f.o., General Mills generated a 185% increase in value to our shareholders. Don was instrumental in this performance by helping craft plans that balanced long-term growth and profitability and initiatives that actively transformed our portfolio to be more global and more growth-facing.”

Billy Bishop, co-founder of Blue Buffalo and group president for the pet segment, is stepping back from day-to-day management. He will move to the role of founder and brand adviser for the pet segment in January 2020, where he will continue providing input on brand strategy and product innovation.

“The Bishops will always be a part of the Blue Buffalo family,” Mr. Harmening said. “Since they started Blue Buffalo in 2002, they have worked tirelessly to support the mission of Blue.”

Bethany Quam will succeed Mr. Bishop as group president for the pet segment, effective Oct. 1, 2019. Ms. Quam has been group president for the company’s Europe and Australia segment since 2016. Before that, she was group president for the convenience stores and food service segment.

Dana McNabb, president of U.S. cereal, will succeed Ms. Quam as group president for the Europe and Australia segment, effective Jan. 1, 2020. Ms. McNabb has held a variety of marketing leadership roles across multiple categories during her 20 years at General Mills. She previously was vice-president of global marketing for Cereal Partners Worldwide, General Mills’ joint venture with Nestle.

“I’m proud of the depth and diversity of General Mills’ leadership talent, which is reflected in the quality of the people transitioning to and from our senior leadership team,” Mr. Harmening said.