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Kellogg board approves separation into 2 companies

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September 11, 2023

Kellogg Co.'s board of directors has approved the previously announced separation into two independent, publicly traded companies, Kellanova and WK Kellogg Co., according to a press release.

Upon completion of the separation on Oct. 2, 2023, Kellogg Co. will be renamed Kellanova, and will continue to trade on the New York Stock Exchange under the ticker symbol "K" while WK Kellogg Co. is expected to begin trading on the NYSE under the ticker symbol "KLG."

At 12:01 a.m. ET on Oct. 2, 2023, Kellogg shareowners of record as of Sept. 21, 2023, will receive one share of WK Kellogg Co for every four shares of Kellogg Co. owned.

"After more than a year of comprehensive planning and execution, we are more confident than ever that the separation will produce two stronger companies and create substantial value for shareowners," Steve Cahillane, Kellogg Co. chairman and CEO, said in the press release.