Quaker Oats Co. Names Robert Morrison to Top Job

Former Kraft Foods executive, Robert Morrison, has been named chairman, president and chief executive of Quaker Oats Co.

Robert Morrison replaces William Smithburg, who said six months ago he would retire from the company after 16 years as CEO.

Morrison's appointment came a day after Kraft Foods Inc., a unit of Philip Morris Cos. Inc., said the 55-year-old executive had resigned.

``I think the momentum is positive and my expectation is, with a strong management team, we'll be able to continue on that momentum,'' Morrison said as he and Smithburg shared the spotlight on a Quaker conference call with analysts to discuss third-quarter results.

Asked about his management style for Quaker, Morrison said he would continue to focus on building sales and lowering costs.