JM Smucker eliminates COO as part of leadership restructuring

Core Insights - J.M. Smucker is restructuring its leadership to consolidate functions and enhance its focus on artificial intelligence [1][2] Leadership Changes - The company will eliminate the chief operating officer position and assign new management responsibilities to five senior executives [2] - A new chief technology officer role will be created to advance the company's artificial intelligence strategy [2] - CEO Mark Smucker will also take on the title of president, while CFO Tucker Marshall will expand his responsibilities to include oversight of U.S. retail frozen handheld and spreads, sweet baked snacks, and international businesses [4] Executive Responsibilities - Tim Wayne will add coffee to his current responsibilities as senior vice president and general manager for away from home and international [5] - Robert Crane will take on oversight of the international business in addition to his role as senior vice president and head of sales and sales commercialization [5] - Rob Ferguson is promoted to chief product supply officer and executive vice president for coffee, pet, and away from home [6] Strategic Focus - The leadership changes aim to drive top-line growth and enhance profitability across the company [7] - The company has made a $120 million investment to expand production at its Hostess manufacturing plant in Columbus, Georgia [7] - Smucker has also restructured its supply chain and manufacturing divisions into separate organizations [7]