Kirk Perry
J M SMUCKERAbout Kirk Perry
Independent director of The J. M. Smucker Company since 2017; age 58. Former President & CEO of Circana (May 2021–February 2025), after seven years leading Google’s Brand Solutions and 23 years at Procter & Gamble, including President, Global Family Care (May 2011–December 2013). Currently serves on SJM’s Nominating, Governance, and Corporate Responsibility Committee, and was affirmed by the Board as independent; his background spans marketing, consumer products, technology, and digital media .
Past Roles
| Organization | Role | Tenure | Notes/Impact |
|---|---|---|---|
| Circana, Inc. | President & Chief Executive Officer | May 2021–Feb 2025 | Led a global provider of technology, data, and predictive analytics; remains a director since May 2021 . |
| Google Inc. | President, Brand Solutions | Seven years | Led global brand solutions; marketing and digital media focus . |
| Procter & Gamble (P&G) | Various leadership roles | 23 years | Including President, Global Family Care (May 2011–Dec 2013) . |
External Roles
| Organization | Role | Tenure | Committees/Details |
|---|---|---|---|
| Kenvue Inc. | Director | Since Dec 2024 | Compensation & Human Capital; Nominating, Governance & Sustainability . |
| Circana, Inc. | Director | Since May 2021 | — . |
| Chick-Fil-A, Inc. | Board Member | Since Aug 2022 | Private company board . |
| e.l.f. Beauty, Inc. | Director | Sep 2016–Nov 2022 | — . |
| Hillerich & Bradsby Co. | Director | Sep 2013–Aug 2016 | — . |
| Non-profit organizations | Board roles | Various | Member of several non-profit boards . |
Board Governance
- Committee assignments: Member, Nominating, Governance, and Corporate Responsibility Committee (NGCR) .
- Independence: Board affirmatively determined Perry is independent. The Board reviewed SJM’s payments to Circana (where Perry was CEO) and concluded amounts did not meet thresholds compromising independence .
- Attendance: In FY2025, the Board held six meetings; all directors attended at least 75% of Board and Committee meetings. All directors attended the 2024 virtual Annual Meeting .
- Executive sessions: Independent directors held four regular executive sessions and two following special meetings in FY2025; chaired by the Lead Independent Director .
- NGCR Committee scope: Director selection and evaluation; governance policy oversight; conflicts review; succession planning; shareholder engagement; and corporate responsibility oversight .
Fixed Compensation
Director compensation structure: annual retainer of $100,000; annual DSU grant valued at $160,000 in FY2025 (increasing to $170,000 in FY2026); additional retainers apply for certain roles (Lead Independent Director, committee chairs/members) but Perry’s FY2024–FY2025 cash fees were equal to the base retainer .
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $100,000 | $100,000 |
| Stock Awards ($) | $160,000 | $160,000 |
| Option Awards ($) | — | — |
| All Other Compensation ($) | — | — |
| Total ($) | $260,000 | $260,000 |
Notes:
- Non-employee director annual DSU grant is made in October; DSUs vest immediately and accrue reinvested dividends; paid in common shares upon termination of service .
Performance Compensation
SJM does not tie director pay to performance metrics; non-employee directors receive DSUs that vest immediately and do not receive stock options. Annual DSU grant values and mechanics are shown below .
| Metric | FY 2025 | FY 2026 (planned) |
|---|---|---|
| Annual DSU Grant ($) | $160,000 | $170,000 |
| Vesting | Immediate on grant | Immediate on grant |
| Dividend Treatment | Dividends credited; reinvested in additional DSUs | Dividends credited; reinvested in additional DSUs |
| Options Granted | None | None (structure unchanged) |
Other Directorships & Interlocks
- No SJM Compensation Committee interlocks in FY2025 (i.e., no overlapping relationships that create interlocks under SEC rules) .
- Related-party monitoring: SJM incurred ~$12.8 million in FY2025 for consumer data/analytics services from Circana while Perry was CEO; the Board affirmed independence and amounts did not exceed NYSE/SEC thresholds. Audit Committee oversees related-party transactions per policy .
Expertise & Qualifications
- Marketing and brand management; consumer products; technology and digital media; operations and general management. Board concluded Perry’s experience provides valuable insights in these domains .
Equity Ownership
Stock ownership guidelines require non-employee directors to own common shares valued at least 5x the annual cash retainer within five years; all non-employee directors met or exceeded the requirement, except a recently added director (not Perry) . Anti-hedging and anti-pledging policies prohibit directors from hedging or pledging SJM stock .
Beneficial ownership of common shares (as of June 16, 2025):
- Kirk Perry: 19,329 common shares; less than 1% of outstanding shares .
Deferred stock units outstanding (as of April 30, 2025):
- Kirk Perry: 19,144 DSUs .
| Metric | Amount | As of |
|---|---|---|
| Beneficial ownership (common shares) | 19,329; less than 1% of shares outstanding | June 16, 2025 |
| Deferred stock units (DSUs) | 19,144 | April 30, 2025 |
| Ownership guideline compliance | Met (company-wide note for non-employee directors) | FY2025 |
| Hedging/Pledging | Prohibited by company policy | Current policy |
Governance Assessment
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Strengths:
- Independence affirmed despite business ties; Board reviewed Circana transactions and concluded thresholds not met; independence maintained .
- Relevant expertise in consumer, marketing, and technology supports board effectiveness and strategy oversight .
- Attendance and engagement: all directors met ≥75% attendance in FY2025; executive sessions held regularly, supporting independent oversight .
- Ownership alignment: DSU grants with immediate vesting and stock ownership guidelines (met) enhance alignment; anti-hedging/pledging policy reduces misalignment risk .
-
Monitoring items / potential red flags:
- Related-party exposure: ~$12.8 million of services from Circana in FY2025 while Perry was CEO. Although below independence thresholds and overseen via related-party policy, continued monitoring and recusal from related deliberations are prudent .
- Multiple external commitments: Current roles at Kenvue, Circana, and Chick-Fil-A appear within SJM’s Board service limits (≤4 public boards for non-executive directors), but ongoing capacity assessments are part of SJM’s governance guidelines .
SJM shareholder sentiment on executive pay remained strong (94% approval at 2024 Annual Meeting), supporting broader governance confidence at the company level .