ORRVILLE, Ohio, Nov. 7, 2023 /PRNewswire/ — The J. M. Smucker Co. (NYSE: SJM) (“Company”) introduced at the moment the formation of a brand new strategic business space—Sweet Baked Snacks—and the following Officer election of Dan O’Leary to Senior Vice President and General Manager, Sweet Baked Snacks and Pet, efficient instantly. The Company has additionally introduced a collection of management adjustments to assist the business following the closing of its acquisition of Hostess Brands.
Newly Defined Strategic Business Areas and Leadership Changes
The Company has shared an up to date strategic business space construction to assist the expanded household of manufacturers and to proceed to advance its technique. The new construction consists of strategic businesses overseen by Board-elected General Managers, all reporting to John Brase, Chief Operating Officer.
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Coffee, inclusive of the Folgers®, Dunkin’® and Café Bustelo® manufacturers, which shall be managed by Rob Ferguson, Senior Vice President and General Manager, Coffee and Procurement. In his new function, Ferguson will lead each the espresso business and the Company’s procurement administration throughout all classes.
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Frozen Handheld and Spreads (previously titled Consumer Foods), inclusive of the Smucker’s® Uncrustables®, Jif® and Smucker’s® manufacturers, which is able to proceed to be managed by Rebecca Scheidler, Senior Vice President and General Manager, Frozen Handheld and Spreads.
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Pet, inclusive of the canine snacks and cat meals businesses, anchored by the Milk-Bone® and Meow Mix® manufacturers, which shall be managed by Dan O’Leary, Senior Vice President and General Manager, Sweet Baked Snacks and Pet.
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Sweet Baked Snacks, inclusive of the Hostess® and Voortman® manufacturers, which may even be managed by Dan O’Leary, Senior Vice President and General Manager, Sweet Baked Snacks and Pet.
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Away From Home and International, inclusive of the Company’s Canadian business, which is able to proceed to be managed by Tim Wayne, Senior Vice President, Away From Home and International.
“We are excited to share this up to date strategic business space construction and the leaders who will drive the continued momentum of our main manufacturers in these rising classes,” mentioned Mark Smucker, Chair of the Board, President and Chief Executive Officer. “With this newly created construction, we’re higher positioned to reap the benefits of synergies, which is able to enable us to leverage the best-in-class experience we have now in our organization round innovation, advertising, business activation and provide chain administration.”
O’Leary assumes the function of Senior Vice President and General Manager, Sweet Baked Snacks and Pet, following his time serving as Chief Growth Officer, Hostess Brands, Inc., the place he oversaw the complete household of manufacturers and drove worthwhile development within the aggressive snacking market. O’Leary brings greater than 20 years of expertise throughout advertising, model building, innovation, M&A and development technique. Before becoming a member of Hostess in 2021, O’Leary led Tyson Foods’ retail ready meals group as Senior Vice President and General Manager and held management roles at Kraft Foods and Mizkan America.
Ferguson takes on the function of Senior Vice President and General Manager, Coffee and Procurement, following his management of the Company’s pet business since 2020. His management has been instrumental within the profitable reshape of the pet meals and pet snacks business, together with continued development for the main canine snacks model available in the market, Milk-Bone®, and establishing a management position with its Meow Mix® cat meals model. Ferguson joined the Company in 2015 by way of the Company’s acquisition of Big Heart Pet Brands, the place he held management roles in technique, operations, provide chain and procurement, previous to his election as Smucker Senior Vice President, Supply Chain.
Establishment of Portfolio Management Organization to Drive Transformation
Following the profitable implementation of the Transformation Office over the previous 12 months, the Company has established an built-in portfolio administration organization, inclusive of Transformation initiatives.
With this resolution, the Company will align Strategy, Finance, Transformation and Information Services underneath the management of Tucker Marshall, Chief Financial Officer. This up to date alignment will allow the shut connection between the Company’s margin-management targets and its a number of planning processes with short- and long-term horizons.
Reporting to Marshall shall be Bryan Hutson, Senior Vice President, Information Services, Transformation and Portfolio Operations.
Today, Hutson oversees the Company’s expertise technique for all points of the organization and performs a key function in vital portfolio administration initiatives. His expertise consists of greater than 20 years of management roles in info companies, company improvement and provide chain. Hutson’s new function will build upon his present duties to incorporate advancing the Company’s margin enhancement efforts and enterprise-wide steady enchancment methods to make sure a pipeline of productiveness initiatives and revenue development alternatives.
“We will proceed to advance the nice work that has been achieved to determine our Transformation imaginative and prescient and construction by means of this advanced organization, which is able to allow better cohesion amongst management throughout the business,” mentioned Tucker Marshall. “In this subsequent section of our journey, we are going to additional combine Transformation with the broader technique of the Company whereas persevering with to embed the imaginative and prescient throughout all planning processes. I stay up for supporting our continued progress, which is able to assist us ship on our dedication to steady enchancment and creating better organizational flexibility and agility.”
Amy Held, Chief Transformation Officer; Joe Stanziano, Senior Vice President and General Manager, Coffee; Gagnesh Gupta, Senior Vice President, Procurement and Commodities, will transition from the Company, efficient February 2, 2024; December 1, 2023; and December 29, 2023, respectively. The Company want to thank these leaders for his or her many contributions to the organization and their groups.
The Company will focus on the up to date strategic business space construction and management adjustments when it studies its second quarter fiscal 2024 outcomes on December 5, 2023.
About The J. M. Smucker Co.
At The J.M. Smucker Co., it’s our privilege to make meals individuals and pets love by providing a various household of manufacturers available throughout North America. We are proud to steer within the espresso, peanut butter, fruit spreads, frozen handheld, candy baked items, canine snacks and cat meals classes by providing manufacturers shoppers belief for themselves and their households every day together with Folgers®, Dunkin’®, Café Bustelo®, Jif®, Smucker’s® Uncrustables®, Smucker’s®, Hostess®, Voortman®, Milk-Bone® and Meow Mix®. Through our unwavering dedication to producing prime quality merchandise, working responsibly and ethically and delivering on our Purpose, we are going to proceed to develop our business whereas making a optimistic influence on society. For extra info, please go to jmsmucker.com.
The J. M. Smucker Co. is the proprietor of all emblems referenced herein, apart from Dunkin’®, which is a trademark of DD IP Holder LLC. The Dunkin’® model is licensed to The J.M. Smucker Co. for packaged espresso merchandise offered in retail channels, equivalent to grocery shops, mass merchandisers, membership shops, e-commerce and drug shops, in addition to in sure away from home channels. This info doesn’t pertain to merchandise on the market in Dunkin’® eating places.
Forward Looking Statements
This press launch consists of sure forward-looking statements throughout the which means of federal securities legal guidelines that contain dangers and uncertainties referring to future occasions and the long run efficiency of the Company. The forward-looking statements might embody statements regarding our present expectations, estimates, assumptions and beliefs regarding future occasions, circumstances, plans and techniques that aren’t historic truth. Any assertion that’s not historic in nature is a forward-looking assertion and could also be recognized by means of phrases and phrases equivalent to “count on,” “anticipate,” “imagine,” “intend,” “will,” “plan,” “try” and related phrases. Federal securities legal guidelines present a secure harbor for forward-looking statements to encourage firms to offer potential info. We are offering this cautionary assertion in reference to the secure harbor provisions. Readers are cautioned to not place undue reliance on any forward-looking statements, which communicate solely as of the date made, when evaluating the data offered on this press launch, as such statements are by nature topic to dangers, uncertainties and different elements, lots of that are outdoors of our management and will trigger precise outcomes to vary materially from such statements and from our historic outcomes and expertise. These dangers and uncertainties embody, however aren’t restricted to, the next: dangers associated to the Company’s potential to comprehend the anticipated advantages of the merger between the Company, SSF Holdings, Inc., a Delaware company and wholly owned subsidiary of the Company, and Hostess Brands, Inc. (the “Transaction”), together with the chance that the anticipated advantages is not going to be realized or is not going to be realized throughout the anticipated time interval; the impact of the consummation of the Transaction on the Company’s potential to retain key personnel and to take care of relationships with clients, suppliers and different business companions; unfavorable results of the consummation of the Transaction available on the market value of the Company’s widespread inventory and/or working outcomes; transaction prices related to the Transaction; the influence of meals safety considerations involving both the Company’s merchandise or its opponents’ merchandise, together with adjustments in client choice, client litigation, actions by the U.S. Food and Drug Administration or different companies, and product remembers; the power to attain cost financial savings associated to restructuring and cost administration packages within the quantities and throughout the time frames presently anticipated; common aggressive exercise available in the market, together with opponents’ pricing practices and promotional spending ranges; the Company’s potential to draw and retain key expertise; the focus of sure of the Company’s businesses with key clients and suppliers, together with single-source suppliers of sure key uncooked supplies and completed items, and the Company’s potential to handle and keep key relationships; and dangers described underneath “Risk Factors” in studies and statements filed by the Company with the U.S. Securities and Exchange Commission. The Company doesn’t undertake any obligation to update or revise these forward-looking statements to mirror new occasions or circumstances.
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SOURCE The J.M. Smucker Co.
