CPG personnel changes: Smucker reshapes leadership; Hormel adds supply chain chief
Recent personnel changes at consumer packaged goods companies seek to achieve tighter supply execution, sharper governance and faster innovation.
The J.M. Smucker Co. announced several senior leadership updates, saying they are designed to support long-term growth and improve profitability.
The company promoted Tucker Marshall, its chief financial officer, to an expanded role that adds executive vice president responsibilities for frozen handheld and spreads and sweet baked snacks, along with expanded oversight that includes the sales function. Smucker also promoted Rob Ferguson to the newly created role of chief product supply officer and executive vice president for coffee, pet and away-from-home, with broader responsibility spanning operations, distribution, supply chain, procurement, commodity hedging, quality assurance, research and development, and cost and productivity programs. Smucker also promoted Jill Penrose to an expanded role as chief people and administrative officer and chief of staff.
As part of the changes, Smucker said it eliminated the chief operating officer role, and John Brase transitioned from the company. Mark Smucker re-assumed the president title and will serve as CEO, president and chair of the board, the company said.
Smuckers also announced changes that take effect later in the year. Tim Wayne, who currently serves as senior vice president and general manager, away from home and international, will be promoted to the role of senior vice president and general manager, coffee and away from home. Robert Crane, who currently serves as senior vice president, head of sales and sales commercialization, will be promoted to the role of senior vice president, head of sales and international. Both promotions are effective as of July 27.
In other news, Hormel Foods named Will Bonifant group vice president and chief supply chain officer, effective March 9. Hormel said Bonifant will lead its global supply chain organization, including procurement, manufacturing, planning, logistics, engineering and supply chain innovation. Bonifant joins Hormel from The Hershey Co., where Hormel said he most recently led supply chain strategy, manufacturing and engineering for a 20-plant network.
CJ Foods also made a top leadership move tied to product development, naming Adam Ricciardone global chief technology officer. In this role, he will establish a global R&D strategy roadmap grounded in evolving food industry trends, enhance CJ Foods’ differentiated technology competitiveness, and build a cross-regional collaboration system to generate stronger global synergies across Regional R&D organizations.
“With the bibigo brand continuing to gain momentum with consumers worldwide, Adam’s depth of experience and proven ability to translate R&D excellence into business impact will be instrumental as we further strengthen our global innovation capabilities and build a world-class R&D organization,” said Dr. Gregory Yep, global CEO of CJ Foods, in a statement.
On the beverage side, Keurig Dr Pepper announced two new independent directors will join its board effective March 2: Amie Thuener and William “Bill” Newlands. The company also said it will split its Remuneration & Nominating Committee into two new committees, Nominating & Governance and Compensation, on the same date. Keurig Dr Pepper said the changes support its transformation agenda as it approaches the closing of its JDE Peet’s acquisition in the second quarter and moves toward a planned separation into two independent companies.