The J.M. Smucker Company Announces Leadership Transition
The J.M. Smucker Company announces that its Board of Directors has implemented a leadership transition plan that leverages the capabilities of the executive team, provides continuity in management, and underscores the company's commitment to focusing on long-term growth and industry leadership.
Effective May 1, 2016, Mark T. Smucker, President, Consumer and Natural Foods, member of the Company's Board of Directors, and fifth generation of the company's founding family, has been appointed President and Chief Executive Officer, succeeding Richard K. Smucker, who has served as Chief Executive Officer since 2011 and Co-Chief Executive Officer since 2001. Richard Smucker will become Executive Chairman of the Board, succeeding current Chairman Timothy P. Smucker, who will transition to the role of Chairman Emeritus and will remain on the company's Board of Directors as a non-employee Director.
Mark Smucker said, "Our Company was built by thousands of families, just like ours, who have cared about its success for over 119 years. I am humbled to serve as a steward of this great company, leading and working with our talented team to build on our prominent market position, and drive continued growth and shareholder value at Smucker. I am honored to succeed Richard as the next Chief Executive Officer of the Company. He has not only been a valuable mentor to me throughout my career, he has also led our Company through a period of significant expansion and strategic transformation. As a result, today, Smucker and our family of iconic brands are stronger than ever. I look forward to working closely with Richard, the Board of Directors, our outstanding leadership team, and our talented employees across the Company, collectively serving all of our constituents – consumers, customers, employees, suppliers, communities, and shareholders."
Concurrent with these appointments, the Smucker Board of Directors has also promoted Mark R. Belgya and Steven Oakland to the additional management roles of Vice Chair, effective May 1, 2016. Belgya, currently Senior Vice President and Chief Financial Officer, will be Vice Chair and Chief Financial Officer, and Oakland, currently President, Coffee and Foodservice, will be Vice Chair and President, U.S. Food and Beverage. In addition to his role as Chief Financial Officer, Belgya will be responsible for strategy, mergers and acquisitions, government and industry affairs, and information services. Oakland will be responsible for the company's U.S. food and beverage businesses, including U.S. retail coffee, U.S. retail consumer foods, foodservice, natural foods, U.S. retail sales, and marketing services.
Effective May 1, 2016, Mark T. Smucker, President, Consumer and Natural Foods, member of the Company's Board of Directors, and fifth generation of the company's founding family, has been appointed President and Chief Executive Officer, succeeding Richard K. Smucker, who has served as Chief Executive Officer since 2011 and Co-Chief Executive Officer since 2001. Richard Smucker will become Executive Chairman of the Board, succeeding current Chairman Timothy P. Smucker, who will transition to the role of Chairman Emeritus and will remain on the company's Board of Directors as a non-employee Director.
Mark Smucker said, "Our Company was built by thousands of families, just like ours, who have cared about its success for over 119 years. I am humbled to serve as a steward of this great company, leading and working with our talented team to build on our prominent market position, and drive continued growth and shareholder value at Smucker. I am honored to succeed Richard as the next Chief Executive Officer of the Company. He has not only been a valuable mentor to me throughout my career, he has also led our Company through a period of significant expansion and strategic transformation. As a result, today, Smucker and our family of iconic brands are stronger than ever. I look forward to working closely with Richard, the Board of Directors, our outstanding leadership team, and our talented employees across the Company, collectively serving all of our constituents – consumers, customers, employees, suppliers, communities, and shareholders."
Concurrent with these appointments, the Smucker Board of Directors has also promoted Mark R. Belgya and Steven Oakland to the additional management roles of Vice Chair, effective May 1, 2016. Belgya, currently Senior Vice President and Chief Financial Officer, will be Vice Chair and Chief Financial Officer, and Oakland, currently President, Coffee and Foodservice, will be Vice Chair and President, U.S. Food and Beverage. In addition to his role as Chief Financial Officer, Belgya will be responsible for strategy, mergers and acquisitions, government and industry affairs, and information services. Oakland will be responsible for the company's U.S. food and beverage businesses, including U.S. retail coffee, U.S. retail consumer foods, foodservice, natural foods, U.S. retail sales, and marketing services.