Kellogg's New No. 2 Has His Bowl Full

CARLOS GUTIERREZ NEEDS TO SNAP TO IT--and crackle and pop, too. The newly anointed Kellogg president is also the new heir apparent to Chairman Arnold Langbo, 61. Trouble is, Kellogg's market share is sagging, and Gutierrez needs to act fast to reverse the trend. Kellogg's U.S. cereal market share has dipped to 32% from 35% in the last two years. Investors are divided on whether Gutierrez should cut prices or focus more on developing new products. But they're pleased to have Gutierrez elevated to the No.2 spot. He has proved an able executive in expanding Kellogg's business in Asia and Latin America.