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Woke Kellogg’s Is Breaking Up After Years of Disappointing Performance

The Kellogg Company, one of the original perpetrators of Woke Capitalism, said Tuesday that it is breaking itself up into three independent companies.

The company will split into three publicly-traded companies whose names will be determined later, Kellogg said. The break-up, which is expected to be a tax-free transaction, has been approved by its board of directors.

“Kellogg has been on a successful journey of transformation to enhance performance and increase long-term shareholder value,” said Steve Cahilane, the company’s chief executive and board chairman.

Back in 2016, the Kellogg Company called for a blacklist of Breitbart, saying that the news organization did not reflect its values. This prompted a #dumpkellogg’s boycott in response that AdWeek described as inflicting huge damage to the company’s reputation.

Kellogg shares have been volatile over the past five years but have failed to gain value. Five years ago, the stock traded at around $70 a share. On Monday, shares were around $67.50. Year-to-date, however, the stock has gained around four percent, outperforming the major indexes which recently entered into bear market territory. Shares were trading around $73 at the time Kellogg announced its blacklisting of Breitbart. The all-time high was around $81 a share in the spring of 2016.The new businesses will be divided into a global snacking company, a North American cereal company, and a plant-based food company.

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