MCLEAN, VA. – Grant F. Reid will succeed Paul S. Michaels as president of Mars, Inc., following Mr. Michaels’ retirement in December.

As global president of the Mars Chocolate business segment, Mr. Reid oversees a team of 17,000 employees. He has led the segment to achieve consistent growth in developing and emerging markets and has helped spearhead the company’s cocoa sustainability initiative. His experience has included sales, marketing, commercial, manufacturing and general management across several Mars business segments.

Mr. Reid will step into a co-president role with Mr. Michaels effective July 2 before formally assuming the position in January 2015.

“In his almost 11 years at the helm of Mars, Incorporated, Paul has overseen a period of outstanding business performance and tremendous achievement,” said Victoria B. Mars, chairman of the Mars board of directors. “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. 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."