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MarketScreener Homepage  >  Equities  >  Nyse  >  The JM Smucker Company    SJM

THE JM SMUCKER COMPANY

(SJM)
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J M SMUCKER CO : Change in Directors or Principal Officers, Other Events, Financial Statements and Exhibits (form 8-K)

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11/13/2019 | 04:38pm EST
Item 5.02    Departure of Directors or Certain Officers; Election of Directors;
             Appointment of Certain Officers; Compensatory Arrangements of
             Certain Officers.


(b) On November 13, 2019, The J. M. Smucker Company (the "Company") issued a press release announcing that Mark R. Belgya, Vice Chair and Chief Financial Officer, will retire from the Company on September 1, 2020. The Company also announced that, effective May 1, 2020, Mr. Belgya will be succeeded as the Chief Financial Officer by Tucker H. Marshall, Vice President, Finance. Effective November 25, 2019, Mr. Marshall will become an elected officer and assume the position of Senior Vice President and Deputy Chief Financial Officer. Effective May 1, 2020, Mr. Marshall will assume the position of Chief Financial Officer, and Mr. Belgya will continue in the position of Vice Chair until his retirement on September 1, 2020.

In addition, on November 13, 2019, the Company announced that David J. Lemmon, President, Pet Food and Pet Snacks, is no longer an executive officer of the Company, effective immediately. The Company anticipates that it will enter into a separation agreement with Mr. Lemmon upon his departure as an employee of the Company on December 6, 2019.

(c) As noted above, effective May 1, 2020, Tucker H. Marshall, 43, the Company's Vice President, Finance, will assume the position of Chief Financial Officer. Mr. Marshall has been the Company's Vice President, Finance since May 2016 and, prior to that time, he served as Vice President, Financial Planning and Analysis since June 2014 and Director, Corporate Finance since July 2012.

Mr. Marshall's compensation as Chief Financial Officer has not been determined at this time but will be established by the Executive Compensation Committee of the Company's Board of Directors prior to May 1, 2020. The Company anticipates that Mr. Marshall's base salary and short-term cash incentive and long-term equity incentive opportunities as a percentage of base salary will be consistent with those previously provided for the Chief Financial Officer of the Company. Mr. Marshall will also participate in all employee plans and benefits consistent with other senior executives of the Company.

There is no arrangement or understanding between Mr. Marshall and any other persons pursuant to which he was elected to his new position with the Company, and there is no family relationship between Mr. Marshall and any directors or executive officers of the Company. Mr. Marshall is not currently engaged, and has not during the last fiscal year been engaged, in any transactions with the Company or its subsidiaries that are required to be disclosed under Item 404(a) of Regulation S-K, nor have any such transactions been proposed.

Item 8.01 Other Events. The Company also announced that, effective November 25, 2019, Robert D. Ferguson, Senior Vice President, Supply Chain, will assume the position of Senior Vice President, Pet Food and Pet Snacks (Interim) and Supply Chain; Amy C. Held, Senior Vice President, Corporate Strategy, M&A and International, will assume the position of Chief Strategy and International Officer; Jeannette L. Knudsen, Senior Vice President, General Counsel and Secretary, will assume the position of Chief Legal and Compliance Officer and Secretary; Jill R. Penrose, Senior Vice President, Human Resources and Corporate Communications, will assume the position of Chief People and Administrative Officer; Geoff E. Tanner, Senior Vice President, Growth and Consumer Engagement, will assume the position of Chief Marketing and Commercial Officer; and Lindsey A. Tomaszewski, Vice President, Talent and Organization Excellence, will become an elected officer and assume the position of Senior Vice President, Human Resources.

Copies of the press releases issued by the Company, each dated November 13, 2019, announcing these organizational changes are attached to this Current Report on Form 8-K as Exhibit 99.1 and Exhibit 99.2 and are incorporated by reference into this Item 8.01.

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Item 9.01 Financial Statements and Exhibits.


(d) Exhibits


  Exhibit                                 Exhibit
  Number                                Description
              Press Release issued by the Company, dated November 13, 2019,
   99.1     announcing Chief Financial Officer succession plan
              Press Release issued by the Company, dated November 13, 2019,
   99.2     announcing executive leadership changes
            XBRL Instance Document - The instance document does not appear in
            the Interactive Data File because its XBRL tags are embedded within
  101.INS   the Inline XBRL document
  101.SCH   XBRL Taxonomy Extension Schema Document
  101.PRE   XBRL Taxonomy Extension Presentation Linkbase Document
  101.DEF   XBRL Taxonomy Extension Definition Linkbase Document
  101.CAL   XBRL Taxonomy Extension Calculation Linkbase Document
  101.LAB   XBRL Taxonomy Extension Label Linkbase Document
            The cover page of this Current Report on Form 8-K, formatted in
    104     Inline XBRL




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