Sector News

JM Smucker announces chief financial officer succession plan

November 14, 2019
Food & Drink

JM Smucker has announced that its CFO Mark Belgya will retire on 1 September 2020, to be replaced by Tucker Marshall, the company’s vice president of finance.

Marshall will become deputy CFO as of 25 November 2019 and will succeed Belgya following the completion of the current fiscal year on 1 May 2020.

Belgya joined Smucker in 1985 and subsequently held numerous financial leadership positions, including corporate controller and treasurer. In 2005, he was promoted to CFO.

“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 JM Smucker CEO, Mark 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 centre 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.”

Belgya added: “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 Smucker in 2012 following a career in investment banking and private equity. During his tenure at the company, he has established a leadership role in the finance organisation, 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.

Mark Smucker added: “Over the last seven years, Tucker has become an integral part of the Smucker organisation 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.”

By Jules Scully

Source: Food Bev

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