Leadership Changes - JM Smucker is eliminating the COO role, with COO John Brase transitioning from the company [1] - Mark Smucker has reassumed the role of president in addition to being chair and CEO [1] Executive Remit Expansion - CFO Tucker Marshall will expand his responsibilities to include executive vice president of JM Smucker's frozen handheld, spreads, and sweet baked snacks businesses [2] - The sweet baked snacks segment has been under pressure, prompting a need for strategic changes [2] Financial Performance and Impairments - In June, JM Smucker announced a focus on narrowing priorities for its sweet-snacks division after recording impairment charges of $980 million, including $867.3 million related to goodwill and $112.7 million tied to the Hostess brand [3] - The company had previously recorded over $1 billion in impairment charges for the same units in March [3] Strategic Plans for Improvement - Mark Smucker outlined plans to enhance the sweet-snacks unit's performance, including reducing SKUs by 25%, closing a factory, and establishing a dedicated sales force [4] - The company aims to stabilize and improve profitability in sweet baked snacks while maintaining momentum in Frozen Handheld and Spreads [4] Promotions and New Appointments - Rob Ferguson has been promoted to chief product supply officer and executive vice president, overseeing coffee, pet, and away-from-home businesses [5] - Jill Penrose has been promoted to chief people and administrative officer and chief of staff, adding corporate strategy responsibilities [5] - Tim Wayne has been appointed general manager of coffee and away-from-home businesses, while Robert Crane will head sales and international [6] New Roles and Searches - JM Smucker will search for a chief technology officer to oversee its AI strategy, as well as senior vice presidents for operations and supply chain, and for science and technical community [7]