BUSINESS MEMO: SARA LEE OVERHAUL

Sara Lee Corp.'s new chief executive overhauled the company last week before even officially taking over. The streamlining will keep established brands like Sara Lee cheesecakes, Playtex bras and Jimmy Dean sausages but shed high-profile operations including Coach leather goods and Champion athletic wear.

More moves can be expected as Sara Lee reviews its more than 150 brands, which also include Hanes underwear and the recently acquired Chock Full o' Nuts coffee business, said Steve McMillan, president and chief operating officer until he succeeds the retiring John Bryan on July 1.

The Chicago-based company projects the selloffs to net it about $2.5 billion. McMillan said the moves were prompted by changing market conditions and the need to refocus the company's portfolio.