William H. Spoor, returning as chief executive officer of the Pillsbury Co., said Tuesday the company has no intention of selling its Burger King subsidiary despite the chain's flat performance in recent months. Spoor, named Monday to replace John M. Stafford as Pillsbury's chairman and chief executive officer, also announced several management changes at the Minneapolis-based parent company. On Wall Street, Pillsbury stock rose 25 cents a share to $37 in trading on the New York Stock Exchange. Burger King, which generates 40 percent of Pillsbury's sales, reportedly has seen its share of the hamburger chain market fall in recent months after rapid growth in the mid-1980s. Burger King's share fell to about 16.8 percent in early 1987 from a 1986 high of 17.4 percent, The Wall Street Journal reported in December. The company has said its average sales per store have been flat at about $1 million for the past two years. ``I want to say without qualification that Burger King is central to Pillsbury,'' Spoor said in a statement at the conclusion of a two-day meeting of Pillsbury's board of directors. ``That was true yesterday, it is true today, and it remains true for the company's strategic future,'' he said. Spoor's statement made no mention of Pillsbury's other restaurant businesses _ Steak & Ale, Godfather's and Bennigan's _ and a spokesman said neither he nor Stafford was available for comment Tuesday afternoon. Spoor had retired from Pillsbury in 1985, but remained on the company's board of directors. His return as CEO was announced Monday in a statement that gave no reasons for Stafford's resignation. ``I pledge to take whatever steps are necessary in the next three months so that we will enter fiscal 1989 with momentum and a solid portfolio of businesses capable of returning superior shareholder value,'' Spoor said in his statement. ``We have a clear strategy that will lead us successfully into the 1990s. fiscal 1988 is a disappointment in many ways, but our future is bright and fiscal 1989, which begins June 1, will be an excellent year and gratifying to our shareholders.'' Pillsbury in fiscal 1987 reported its first earnings decline in 16 years: $182 million, or $2.10 a share, down from $208 million, or $2.38 a share, in fiscal 1986. Stock analysts who were projecting fiscal 1988 earnings of about $2.80 a share were told by Stafford in February to lower the projections by about 30 cents a share, a Pillsbury spokesman said. Spoor on Tuesday announced four promotions in the top management of the company: _John L. Morrison, was elected a Pillsbury executive vice president and was named chairman, U.S. Foods. He was formerly a Pillsbury vice president and president, International Foods. _Thomas R. McBurney, executive vice president, was named chairman, International Foods. McBurney served previously as chairman, U.S. Foods. _Jerry W. Levin, executive vice president, corporate development and chairman of The Haagen-Dazs Co., was given the additional responsibility for Pillsbury's Industrial Foods Business. Industrial Foods was previously a part of U.S. Foods. _James R. Behnke, senior vice president for technology, was made responsible for Pillsbury's research and development activities worldwide.
