Sector News

McCormick Names Kurzius to Newly Created President, COO Role

January 12, 2015
Food & Drink
McCormick Co. said Friday that Lawrence Kurzius has stepped into the newly created position of chief operating officer and president, overseeing business world-wide for the spice company.
 
Mr. Kurzius, formerly president of Americas and China chief administrative officer, will also be responsible for the company’s supply chain and research and development functions.
 
He will continue to report to Chief Executive Alan D. Wilson. A representative for the company wasn’t immediately available to comment on whether the appointment is a succession-planning move.
 
Mr. Kurzius, age 55 as of last February’s proxy filing, has been at McCormick for 11 years in roles such as president of international businesses, and president of global consumer operations. Previously, he was the CEO at food-and-spice company Zatarain’s, and also worked at Uncle Ben’s.
 
Additionally, Malcolm Swift, currently president of EMEA, will become president of the global industrial segment. Mr. Swift joined McCormick in January 2005.
 
Expansion in China, formerly Mr. Kurzius’s main area of focus, has been a key strategy for McCormick. In May 2013, the company paid about $122 million to acquire Wuhan Asia-Pacific Condiments Co., the maker of DaQiao and ChuShiLe brand bouillon products. In the most recently ended quarter, the company’s consumer business results were driven by a 15% sales increase in China.
 
Maryland-based McCormick has posted strong results in recent quarters on strength in its international segments, though U.S. sales have faced pressure from competition. McCormick has pursued a marketing effort to help turn around demand and sales, and said last year that it will also expand its product offerings.
 
Shares of McCormick, which were inactive premarket, have been up about 10% in the past 12 months through Thursday’s close.
 
By Angela Chen
 
 

comments closed

Related News

September 25, 2022

Coca-Cola names new president of global ventures

Food & Drink

The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.

September 25, 2022

Perfect Day allies with Onego Bio to speed-up launch of animal-free eggs

Food & Drink

US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.

September 25, 2022

EU fails on food waste: Report reveals bloc discards more than it imports

Food & Drink

Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.