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J.M. Smucker (SJM) Reshuffles Management to Boost Growth

Zacks Equity Research
Updated

The board of The J.M. Smucker Company SJM recently shuffled its management in order to position the company for continued growth.

Last week, Smucker announced the retirement of Dennis J. Armstrong, Senior Vice President, Supply Chain Logistics and Operations Support on Sep 30, 2016. Armstrong has been with the company for 37 years and has served in a number of leadership roles in logistics, operations, and purchasing.

The company also announced the following appointments to replace Armstrong, which will be effective from May 1, 2016.

Smucker appointed James R. Day (Randal) as the new Senior Vice President, Operations. Day, who is currently working as the Vice President of Coffee Operations, has been associated with the company for 27 years.

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Robert D. Ferguson will take up the role of Senior Vice President, Supply Chain. Ferguson, currently Vice President, Integrated Business and Program Management, has held leadership roles for seven years with Big Heart and Del Monte Foods, Inc.

Both Day and Ferguson will report to Mark Smucker as members of his executive leadership team. Last month, the company had appointed Mark Smucker as the President and Chief Executive Officer of the company, effective from May 1, 2016. Mark is a member of the company's board and fifth generation of the company's founding family. He is currently serving as the president of the Consumer and Natural Foods division.

Strong organic sales growth, product innovation and constant efforts to expand through acquisitions have remained Smucker’s strong points. The recent acquisitions and the launch of Dunkin Donuts K-cup pods are fueling sales and are expected to pull up the top line in fiscal 2016. Encouragingly, the company will begin to witness growth in coffee volumes in the near term owing to lower coffee price and increase from sales of Dunkin Donuts K-Cup pods. However, currency headwinds remain a concern for Smucker. The company also remains concerned with heightened competitive activity in the pet food business.

Smucker currently has a Zacks Rank #3 (Hold).

Some better-ranked food companies include Campbell Soup Company CPB, McCormick &Co. MKC and Sysco Corp. SYY. While Campbell sports a Zacks Rank #1 (Strong Buy), McCormick and Sysco hold a Zacks Rank #2 (Buy).

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SYSCO CORP (SYY): Free Stock Analysis Report
 
CAMPBELL SOUP (CPB): Free Stock Analysis Report
 
SMUCKER JM (SJM): Free Stock Analysis Report
 
MCCORMICK & CO (MKC): Free Stock Analysis Report
 
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