J.M. Smucker is restructuring its top leadership to consolidate functions and double down on artificial intelligence, the Uncrustables maker said Tuesday.
The company will eliminate its chief operating officer position and give new management responsibilities to five senior executives. It is also creating the role of chief technology officer, whose responsibilities will include advancing the company’s artificial intelligence strategy.
The leadership changes come as the Ohio-based company looks to boost growth, further momentum among its food and beverage portfolio and expand earnings and profitability. Smucker and other CPG companies have been dealing with a pullback in consumer spending and rising expenses, forcing many firms to find ways to cut costs or rethink how they run their businesses.
As part of the leadership changes, CEO Mark Smucker will add the title of president, and CFO Tucker Marshall will expand his responsibilities to oversee the company’s U.S. retail frozen handheld and spreads, sweet baked snacks and international businesses.
Other executives will also take on more oversight.
Tim Wayne, who currently serves as senior vice president and general manager for away from home and international, will add coffee to his responsibilities. In addition, Robert Crane, who is senior vice president and head of sales and sales commercialization, will add oversight of the international business to his title.
Rob Ferguson, who has served as senior vice president and general manager, coffee and procurement, is being promoted to the new role of chief product supply officer and executive vice president for coffee, pet and away from home.
The jam maker and Hostess owner is also looking to hire a chief technology officer who will handle information technology and AI.
“These executive leadership updates will sharpen our focus on driving top-line growth and enhancing profitability across the Company,” Mark Smucker said in a statement.
During the last year, Smucker has implemented other changes designed to improve its business, including a $120 million investment to expand production at its Hostess manufacturing plant in Columbus, Georgia. In February, Smucker said it would divide its supply chain and manufacturing divisions into separate organizations.
