The J.M. Smucker Company is undergoing a reorganization of its senior leadership team to streamline operations and focus more on artificial intelligence, announced the maker of Uncrustables on Tuesday.
The company is doing away with the position of chief operating officer and redistributing management responsibilities to five senior executives. Additionally, a new role of chief technology officer is being created to spearhead the company’s AI strategy.
These changes come as the Ohio-based firm aims to drive growth, build on the success of its food and beverage lineup, and enhance earnings and profitability. Like other consumer packaged goods companies, Smucker has been navigating challenges such as reduced consumer spending and increased costs, prompting a need for cost-cutting measures and operational reevaluation.
Under the new leadership structure, CEO Mark Smucker will take on the additional role of president, while CFO Tucker Marshall will expand his duties to include overseeing the company’s U.S. retail frozen handheld and spreads, sweet baked snacks, and international divisions.
Other executives will also see expanded responsibilities.
Tim Wayne, currently serving as senior vice president and general manager for away from home and international, will now also oversee the coffee segment. Furthermore, Robert Crane, senior vice president and head of sales and sales commercialization, will take on additional oversight of the international business.
Rob Ferguson, previously senior vice president and general manager for coffee and procurement, is being promoted to the new position of chief product supply officer and executive vice president for coffee, pet, and away from home.
The company, known for its jams and ownership of Hostess, is also in search of a chief technology officer to lead IT and AI initiatives.
“These executive leadership changes will enhance our focus on driving revenue growth and improving profitability throughout the organization,” stated Mark Smucker.
In recent times, Smucker has implemented various strategic changes to enhance its operations, including a $120 million investment to expand production at its Hostess manufacturing facility in Columbus, Georgia. Additionally, the company announced plans to restructure its supply chain and manufacturing divisions earlier this year.
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