Sara Lee chief executive Steve McMillan has announced the second stage of radical streamlining to reduce costs and focus on more profitable operations. McMillan plans to divest several "fringe" food companies representing £300m in sales, as well as trim other non core operations, notably its individually managed European clothing firms. "We need to become more of a company and less of a collection," he told analysts. A failure to integrate acquisitions effectively meant the company had failed to achieve cost savings from new purchases, which continued to operate as separate businesses, he added. The move follows his earlier announcement in May to focus on three core areas: food and household products, coffee and tea, and underwear. {{NEWS }}