Sector News

McCormick taps Marcos Gabriel as next CFO, veteran Mike Smith to retire

July 7, 2024
Consumer Packaged Goods

Flavour company McCormick & Company has named Marcos Gabriel as its next executive vice president and chief financial officer, effective December 1 2024.

Gabriel will succeed Mike Smith, who has served as McCormick’s CFO since 2016 and will retire on February 28 2025 after over three decades with the company.

Brendan M Foley, president and CEO, said: “Mike has been an integral leader for McCormick for more than three decades.”

He continued: “His strategic leadership and focus on value creation have been instrumental in driving top-tier organic growth and the successful acquisition of iconic brands like Frank’s RedHot, French’s and Cholula”.

In his new role, Gabriel will lead McCormick’s global finance organisation and business services team. He first joined the company in 2017 as CFO for the Americas region and has also served as chief transformation officer.

“Marcos is a proven global leader with over twenty-five years of experience in the Consumer Products industry,” Foley added. “His expertise in finance, digital transformation, and business development will be instrumental as we continue to advance our leadership and differentiation.”

Founded in 1889 and headquartered in Hunt Valley, Maryland, McCormick is a $6.5 billion global producer of herbs, spices, seasonings and flavours.

The company operates in two complementary segments – Consumer and Flavor Solutions – serving food manufacturers, retailers and foodservice businesses worldwide.

As part of its long-term growth strategy, McCormick has focused on expanding its portfolio of iconic brands and investing in digital capabilities and sustainability initiatives.

by Siân Yates

Source: foodbev.com

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