The J.M. Smucker Company is implementing a new leadership transition plan that names Mark T. Smucker as CEO, replacing his uncle Richard K. Smucker.
Mark—fifth generation of the century old fruit spread company’s founding family—will take over the position beginning in May. He previously served as president, consumer and natural foods and a member of the company’s Board of Directors. Richard 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 Board as a non-employee director.
“We are pleased to announce this leadership transition at an exciting time for our Company as we continue to deliver record results and our brands lead in key market categories,” states Richard. “Today's announcement exemplifies the company’s long-term succession planning and underscores the tradition of management continuity that has shaped Smucker into the company it is today.”
“Our Company was built by thousands of families, just like ours, who have cared about its success for over 119 years,” Mark adds. “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.”
Smucker also promoted Mark R. Belgya and Steven Oakland to the additional management roles of vice chair, effective May 1.