ORRVILLE, Ohio, Nov. 13, 2019 /PRNewswire/ -- The J. M. Smucker
Company (NYSE: SJM) today announced that Mark Belgya, Vice Chair and Chief Financial
Officer (CFO), has communicated his decision to retire September 1, 2020. Following a comprehensive
internal and external search, Tucker
Marshall, Vice President, Finance, has been elected to
succeed Belgya as CFO, reporting to President and Chief Executive
Officer, Mark Smucker.
Effective November 25, 2019,
Marshall will become Senior Vice President and Deputy CFO and an
elected Officer of the Company. He will succeed Belgya following
the completion of the current fiscal year on May 1, 2020. Belgya will continue as Vice Chair
until his retirement, ensuring a seamless transition.
"On behalf of the entire Board and leadership team, I want to
thank Mark for his 35-year commitment to our Company, including
serving as our CFO for the past 15 years," said Smucker. "His
guidance and leadership have been instrumental to the Company's
transformational sales growth from $2
billion to nearly $8 billion,
and he has been at the center of the acquisitions and divestitures
that have diversified and strengthened our portfolio of brands. His
expertise and integrity is the benchmark for packaged food industry
CFOs. It has been my great pleasure to partner with Mark, and we
are beyond grateful for his leadership and innumerable
contributions."
Smucker continued, "Succession planning is a critical element of
how we operate our business and develop our people. Over the last
seven years, Tucker has become an integral part of the Smucker
organization and brings significant financial management experience
and a deep understanding of the Company to the role. He has the
respect and confidence of his colleagues and the Board, and I am
certain he will be an excellent CFO."
Belgya joined the Company in Internal Audit in 1985 and
subsequently held numerous financial leadership positions,
including Corporate Controller and Treasurer. In 2005, he was
promoted to CFO and then again to Vice Chair in 2016. Under
Belgya's leadership, the Company has developed a disciplined
financial strategy and built a world-class Finance team. He is also
a member of the Board of Directors of Fossil Group, Inc. and
Hamilton Beach Brands Holding Company.
"I love Smucker and the people I've had the privilege to work
with," said Belgya. "As I look back on my career, I am extremely
proud of the work we have done to transform the Company and
position the business to deliver long-term value to shareholders.
I've worked closely with Tucker over the last several years and
know the Company will benefit from his leadership."
Marshall joined the Company in 2012 following a career in
investment banking and private equity where he gained diverse
financial and capital markets experience. During his tenure at
Smucker, he has established a leadership role in the finance
organization, with responsibility for corporate accounting and
financial reporting, accounting shared services and technology
solutions, internal audit and compliance, financial planning and
analysis, and investor relations. In these roles, he has worked
closely with executive leadership on long-term strategic planning,
including multiple M&A transactions.
Marshall graduated from Gettysburg
College with a bachelor's degree in economics, finance and
accounting. In addition, he studied at the London School of Economics and received his
master's degree from Northwestern
University's Kellogg School of Management.
About The J. M. Smucker Company
Inspired by more than
120 years of business success and five generations of family
leadership, The J. M. Smucker Company makes food that people and
pets love. The Company's portfolio of 40+ brands, which are found
in 90 percent of U.S. homes and countless restaurants, include
iconic products consumers have always loved such as
Folgers®,
Jif® and
Milk-Bone® plus new favorites like
Café Bustelo®,
Smucker's®
Uncrustables® and Rachael Ray™
Nutrish®. Over the past two decades,
the Company has grown rapidly by thoughtfully acquiring leading and
emerging brands, while ensuring the business has a positive impact
on its 7,000+ employees, the communities it is a part of and the
planet. For more information about The J. M. Smucker Company, visit
jmsmucker.com.
The J. M. Smucker Company is the owner of all trademarks
referenced herein except for Rachael
Ray®, a registered trademark of Ray
Marks Co. LLC, which is used under license.
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SOURCE The J. M. Smucker Company