Paul Michaels, president of Mars, Incorporated (McLean, VA) since 2004, recently informed the Mars Board of Directors of his plan to retire on Dec. 31, 2014. The company announced that Grant Reid, current global president of Mars Chocolate, will take over the Office of the President on Jan. 2, 2015.

“In his almost 11 years at the helm of Mars, Incorporated, Paul has overseen a period of outstanding business performance and tremendous achievement. He also built up the talent of the company while strengthening the visible presence of our Five Principles—Quality, Efficiency, Responsibility, Mutuality and Freedom—in the way we operate,” said Victoria Mars, chair of the Mars Board of Directors. “It’s because of his focus on nurturing leaders who are both talented and principled, that we have such a strong internal successor in the business. We are proud and excited that Grant, a 26-year veteran of the business, and a member of the Mars Leadership Team since 2007, will be our next president.”

As global resident of Mars Chocolate, one of Mars’ biggest business segments, Grant leads more than 17,000 associates. In the last five years, Mr. Reid has led the Chocolate business to deliver consistent growth in mature and emerging markets, and built a diverse team of leaders. In addition, he has been a champion of industry efforts to collaborate on the issue of cocoa sustainability. In particular, he has grown the Mars’ Sustainable Cocoa Initiative.

Mr. Reid will step into a Co-Office of the President role effective July 2. He’ll then have the time to partner with Mr. Michaels on transition plans before taking on the role president of Mars formally in January 2015.

“I’m grateful to the Board of Directors for giving me this opportunity and proud to have been chosen as the next president of Mars, Incorporated. Mars has always encouraged and provided opportunity for growth and development of associates, and I am certainly living proof of that fact,” said Mr. Reid. “I believe in the Mars culture, I love the Mars brands and I know that we have the best associates in the world. We have a truly exciting future and I’m honored to lead the organization into that future.”

Mr. Reid’s diverse experience across the business gives him both historical perspective and a broad view of the way Mars operates. He has worked across multiple functions including sales, marketing, commercial, manufacturing and general management as well as several Mars business segments. He has an Honors Degree in Management Economics, as well as a Certificate in Marketing from the Chartered Institute of Marketing.