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[Music] over the past several years kellogg company has been on a transformation journey at each stage weve improved our portfolio enhanced our performance and increased value for all of our stakeholders now we are taking bold next steps on that journey unlocking the full potential of our portfolio through three important actions first we are creating a leader in global snacking international cereal and noodles and north america frozen breakfast consisting of approximately 80 percent of the kellogg portfolio we will choose a new corporate name in the coming months but for now were calling this global snack and co the company and its culture will be built on the shoulders of the rich heritage and legacy started by our founder w.k kellogg as an independent company global snack and co will focus investments and capital to build on its strong growth momentum and profitability second we intend to separate our u.s canada and caribbean serial business to create a leading independent cereal