The J. M. Smucker Company has announced a few executive changes as it looks to usher in the next era of growth for the business.
Effective May 1, 2016, J. M. Smucker will appoint these company executives to the following positions, according to a press release:
Mark T. Smucker, the current President, Consumer and Natural Foods, Board Member, and fifth generation of the company’s founding family, will be named President and CEO.
Richard K. Smucker, the current President and CEO, will be named Executive Chairman of the Board. He has also served on other industry boards for Grocery Manufacturers Association, Food Marketing Institute, and the Consumer Goods Forum.
Timothy P. Smucker, the current Chairman, will be named Chairman Emeritus and will remain on the Board of Directors as a non-employee Director. Timothy has been Chairman of the Board since August 2011 and served as Co-CEO from February 2001 through August 2011.
Mark R. Belgya, the current Senior Vice President and Chief Financial Officer, will be named Vice Chair and Chief Financial Officer. He began his career at Smucker in 1985, and previously served as a member of the Board of Directors at MOM Brands.
Steven Oakland, the current President, Coffee and Foodservice, will be named Vice Chair and President, U.S. Food and Beverage. He began his career at Smucker in 1982.
Richard Smucker said in a press release that the company and its Board of Directors are proud of Mark’s numerous contributions and his accomplishments, and that they are confident that J. M. Smucker will continue to innovate, evolve, and grow in the years to come.
He added, “Leading this organization has been an immense pleasure. I am grateful for the opportunity to have worked alongside the best team in the industry and look forward to many more accomplishments in the future.”
Mark Smucker, meanwhile, said that not only is he honored to succeed Richard as the new Chief Executive Officer, but that he is also looking forward to working with Richard, the Board of Directors, the company’s leadership team, and its employees.
“Our company was built by thousands of families, just like ours, who have cared about its success for over 119 years,” said Mark Smucker. “I am humbed 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.”
J. M. Smucker said that this announcement is in line with its long-term strategy and continued focus on creating a larger, stronger, and more diversified organization.