Company is Focused on Ongoing Margin Enhancement While
Supporting Continued Momentum of Its Strategy
ORRVILLE, Ohio, Sept. 14,
2022 /PRNewswire/ -- The J.M. Smucker Co. (NYSE: SJM)
today announced the formation of a Transformation Office, which
will be overseen by Amy Held in the
newly created role of Chief Transformation Officer. Held previously
served as the Company's Chief Strategy and International Officer.
The Transformation Office will support the Company's commitment to
ongoing margin enhancement efforts and will be solely focused on
enterprise-wide continuous improvement strategies to ensure a
pipeline of productivity initiatives and profit growth
opportunities.
In corresponding decisions, the Company announced it will
undertake a rigorous search to fill the Chief Strategy Officer
role. Held will maintain oversight of strategy while the Company
recruits to fill the position. Additionally, Tim Wayne, who has taken on the expanded role of
Vice President, International and Away From Home, will now oversee
the international business.
"Our teams have done an incredible job of navigating sustained
external pressures. As these challenges endure, we must be
proactive in addressing their impact to support both near-term
performance and long-term growth potential," said Mark Smucker, Chair of the Board, President and
Chief Executive Officer. "The introduction of the Transformation
Office will help ensure the continued momentum of our strategy,
which has supported the tremendous results our business has
delivered, by sharpening our focus on driving productivity and
unlocking cost savings."
The Transformation Office will be compiled of cross-functional
leaders, under Held, who will help establish new ways of working,
along with sustainable efficiencies and cost reduction while
embedding capabilities to track, measure and report on these
efforts throughout the Company.
"I am excited to take on this challenge and to have the
opportunity to work with an incredible team of leaders," said Held.
"As I assume this new role, I am inspired by our commitment to
continuous improvement – of being even better tomorrow than we are
today. We are beginning this work from a place of strength thanks
to the dedication of our employees, and the results we will achieve
together will further strengthen our already solid position."
The Company plans to share further details on its Transformation
Office at its upcoming Investor Day on December 14, 2022.
About The J.M. Smucker Co.
Each generation of consumers leaves their mark on culture by
establishing new expectations for food and the companies that make
it. At The J.M. Smucker Co., it is our privilege to be at the heart
of this dynamic with a diverse portfolio that appeals to each
generation of people and pets and is found in more than 80 percent
of U.S. homes and countless restaurants. This includes a mix of
iconic brands consumers have always loved such as
Folgers®, Jif® and
Milk-Bone® and new favorites like Café
Bustelo®, Smucker's®
Uncrustables® and Rachael
Ray® Nutrish®. By continuing to
immerse ourselves in consumer preferences and acting responsibly,
we will continue growing our business and the positive impact we
have on society. For more information, please visit
jmsmucker.com.
The J.M. Smucker Co. is the owner of all trademarks referenced
herein, except for Rachael
Ray®, a registered trademark of Ray Marks II
LLC, which is used under license.
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SOURCE The J.M. Smucker Co.