JM Smucker reorganizes as head of food & beverage announces upcoming retirement

25-Jan-2018 - Last updated on 25-Jan-2018 at 14:25 GMT

Peanut butter and jelly maker JM Smucker Co. prepares for the departure of the head of its food and beverage for the US at a delicate time when it is navigating shifting consumer preferences away from “big food” and rising supply costs for some of its key brands.

Steven Oakland, vice chair and president of JM Smucker Co.’s US food and beverage business will retire at the end of June after helping guide the company’s food business in various roles for the past 35 years.

“Steve Oakland has been a highly respected leader and a role model to many in our company and his contributions to Smucker’s long-term success are many and deeply valued,” CEO and President Mark Smucker said in a release.

Among the successes Oakland has helped oversee is driving up profits of iconic brands, including Jif peanut butter and Dunkin’ Donuts coffee, both of which saw double-digit sales increases in the company’s second quarter reported in November.

As head of US retail sales and marketing services, Oakland also saw strong growth for Smucker’s brands in e-commerce double in the most recently reported quarter, an achievement that the company’ CEO previously said gives him confidence in Smucker’s ability to win in the rapidly changing retail environment.

At the same time, Oakland has had to navigate substantial challenges – including rising costs of green coffee and push back from consumers at previous price hikes of brands such as Bustillo and Folgers to help offset the expense. This resulted in an 18% decline in coffee earnings during the most recently reported quarter, despite an increase in sales.

Other changes ‘balance roles and responsibilities’

In his remaining time with the company, Oakland will help new leadership transition to take over different aspects of the company’s food and beverage business.

Among the reorganization’s key changes, Joseph Stanziano will step up as senior vice president and general manager of coffee after serving most recently as a corporate officer, member of the company’s executive leadership team and the senior vice president and general manager of consumer foods.

Replacing him, Tina Floyd will become the new senior vice president and general manager of consumer food and has been elected a corporate officer. As such, Floyd will oversee the consumer and natural foods strategic business areas. This comes after her current position as vice president and general manager of Away From Home.

And finally, Amy Held will take over as the senior vice president of strategy and M&A. Held, along with Floyd, will join Smucker’s executive leadership team, according to the company.