Perspectives from ISB

Headquartered in Orrville, Ohio, the J. M. Smucker Company is a manufacturer of fruit spreads, ice cream toppings, beverages, shortening, natural peanut butter, and other products. The company was founded in 1897 by Jerome Monroe Smucker. The company is America’s eighth largest shelf-stable food and beverage company, with eight of the No. 1 brands in the United States and seven No. 1 brands in Canada. It is also the No. 1 maker of dog snacks and No. 2 maker of cat foods.

Recently the board of directors of the company announced that Mark T. Smucker will become the nearly 120-year-old food company’s fifth-generation president and chief executive starting May 1, 2016. Mark Smucker, 46, is currently president of the company’s Consumer and Natural Foods division. He will succeed his uncle, Richard K. Smucker, who has been CEO since 2011 and Co-CEO since 2001.

Fourth-generation CEO Richard Smucker, 67, will become J.M. Smucker’s executive chairman of the board, succeeding his elder brother and Mark’s father, Timothy P. Smucker, 71, who will become chairman emeritus and remain on the company’s board as a non-employee director.


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