The J.M. Smucker Co. Announces Updates to Its Board of Directors Leadership
The J.M. Smucker Co. (NYSE: SJM) announced on June 23, 2022, that Mark Smucker will become the Chair of the Board effective August 17, 2022, succeeding Richard Smucker, who will retire after 50 years with the company. Tim Smucker will transition to a non-voting Chairman Emeritus role on the same date. Mark Smucker expressed gratitude for the leadership provided by his father and uncle and looks forward to enhancing collaboration with the Board to drive the company's vision and growth.
- Mark Smucker's appointment may bring fresh leadership and perspective.
- Continuity in leadership with the transition of roles within the Smucker family supports stability.
- Richard Smucker's retirement may raise concerns regarding continuity during this leadership transition.
- Tim Smucker's transition to a non-voting role could signify a potential gap in experience and influence on the Board.
ORRVILLE, Ohio, June 23, 2022 /PRNewswire/ -- The J.M. Smucker Co. (NYSE: SJM) today announced that Mark Smucker, President and Chief Executive Officer, will assume the expanded role of Chair of the Board effective August 17, 2022. Mark Smucker will succeed Richard Smucker, who has served as Executive Chairman since 2016. Richard Smucker will retire as an employee of the Company on October 9, 2022, which will mark 50 years of service with the Company, and continue as a Board Director. Additionally, effective August 17, 2022, Tim Smucker will retire as a Board Director and transition to a new non-voting Chairman Emeritus role on the Board.
"I am honored and humbled by the opportunity to serve as Chair of the Board," said Mark Smucker, Chief Executive Officer. "I also want to take this opportunity on behalf of our entire organization to thank my father, Tim Smucker, and my uncle, Richard Smucker, for their leadership and vision, which enabled the transformation of our Company from primarily a fruit spreads business to a multi-category CPG leader. I am excited to continue collaborating with the experienced and accomplished members of our Board and our dedicated employees to deliver on our vision to engage, delight and inspire consumers by building brands they love and by leading in growing categories."
For more information on The J.M. Smucker Co. visit www.jmsmucker.com.
Each generation of consumers leaves their mark on culture by establishing new expectations for food and the companies that make it. At The J.M. Smucker Co., it is our privilege to be at the heart of this dynamic with a diverse portfolio that appeals to each generation of people and pets and is found in nearly 90 percent of U.S. homes and countless restaurants. This includes a mix of iconic brands consumers have always loved such as Folgers®, Jif® and Milk-Bone® and new favorites like Café Bustelo®, Smucker's® Uncrustables® and Rachael Ray® Nutrish®. By continuing to immerse ourselves in consumer preferences and acting responsibly, we will continue growing our business and the positive impact we have on society. For more information, please visit jmsmucker.com.
The J.M. Smucker Co. is the owner of all trademarks referenced herein except for Rachael Ray®, a registered trademark of Ray Marks II LLC, which is used under license.
View original content to download multimedia:https://www.prnewswire.com/news-releases/the-jm-smucker-co-announces-updates-to-its-board-of-directors-leadership-301574312.html
SOURCE The J.M. Smucker Co.
FAQ
What leadership changes are happening at J.M. Smucker Co. in August 2022?
When will Richard Smucker retire from J.M. Smucker Co.?
What is the significance of Mark Smucker's new role at J.M. Smucker Co.?
What roles will Tim Smucker have after his retirement from the Board?
