NEW YORK (CNNMoney.com) -- Sara Lee Corp. said Monday that it's searching for a new leader after its chairman and CEO stepped down for health reasons.
The food and beverage maker said that Brenda Barnes, who has been on medical leave since suffering a stroke in May, will end her six-year stint as leader of the company.
"We fully support Brenda's decision to step down as chairman and CEO so she can devote all of her time and energy toward improving her health," said James Crown, an independent director who has served as chairman of the board since Barnes took a leave of absence on May 14.
Marcel Smits, formerly the chief financial officer, will continue to serve as interim CEO until Sara Lee (SLE, Fortune 500) decides on a permanent replacement, the company said.
Sara Lee announced that is has begun the search for a new CEO this week. The company said it's considering both in-house candidates as well as people outside Sara Lee.
Barnes ranks number 10 on Fortune's Most Powerful Women list. 
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 32,627.97 | -234.33 | -0.71% |
| Nasdaq | 13,215.24 | 99.07 | 0.76% |
| S&P 500 | 3,913.10 | -2.36 | -0.06% |
| Treasuries | 1.73 | 0.00 | 0.12% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
|
Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More |
Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More |
Honda and General Motors are creating a new generation of fully autonomous vehicles. More |
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More |
Whether you hedge inflation or look for a return that outpaces inflation, here's how to prepare. More |
