Mark Smucker
Chair of the Board, President, and CEO at SJ M Smucker Co
Board
Since August 2022
Age
54 years
Tenure
Joined SJM over 25 years ago, serving as an officer since 2001 and progressing through leadership roles including President of Special Markets (2008–2011), U.S. Retail Coffee (2011–2015), Consumer and Natural Foods (2015–2016), and President/CEO (2016–2022) before being appointed as Chair of the Board, President, and CEO.
Also at J M Smucker Co
JK
Jeannette Knudsen
Chief Legal Officer and Secretary
JP
Jill Penrose
Chief People and Company Services Officer
JB
John Brase
Chief Operating Officer
About
Mark T. Smucker has built an extensive career at The J.M. Smucker Company over more than two decades, demonstrating a strong commitment to leadership and operational excellence across various divisions of the business.
He advanced through a structured progression of roles, beginning with positions such as President of Special Markets and later leading U.S. Retail Coffee and Consumer and Natural Foods before serving as President and CEO from May 2016 until his current appointment in August 2022.
In addition to his work at SJM, he has contributed his expertise to external organizations by serving on the board and various committees at Kimberly-Clark Corporation, further highlighting his role in shaping governance and strategic direction within the consumer goods industry.
$SJM Performance Under Mark Smucker
Past Roles
| Organization | Role | Date Range |
|---|---|---|
| The J.M. Smucker Company | President and Chief Executive Officer | May 2016 - August 2022 |
| The J.M. Smucker Company | President, Consumer and Natural Foods | April 2015 - April 2016 |
| The J.M. Smucker Company | President, U.S. Retail Coffee | May 2011 - March 2015 |
| The J.M. Smucker Company | President, Special Markets | August 2008 - April 2011 |
| The J.M. Smucker Company | Vice President, International | July 2007 - July 2008 |
| The J.M. Smucker Company | Vice President, International and Managing Director, Canada | May 2006 - June 2007 |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Kimberly-Clark Corporation | Director and Committee Member | Since September 2019 | Member of management development and compensation, and nominating and corporate governance committees |
Fixed Compensation
Data from FY 2024
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Annual Base Salary | $1,183,846 | Annual | Fixed annual base salary for fiscal year 2024 |
| Holiday Bonus | $23,800 | Annual | 2% of annual base salary |
| Use of Aircraft | $111,920 | Annual | Valued personal use of the company's aircraft |
| Flexible Perquisite | $10,000 | Annual | Fixed perquisite for health, wellness, social, or travel expenses |
| Financial and Tax Planning Assistance | $20,000 | Annual | Assistance for financial and tax planning |
| Employer Matching Funds under 401(k) Plan | $24,150 | Annual | Employer contributions matching funds |
| Company Contributions to Deferred Comp. | $44,797 | Annual | Company contributions to deferred compensation accounts |
| Charitable Matching Gifts | $5,000 | Annual | Gifts provided under the charitable matching program |
Performance Compensation
Data from FY 2024
Non-Equity Incentive Plan Compensation
| Metric | Threshold | Target | Maximum (Cap) | Weight |
|---|---|---|---|---|
| Adjusted Operating Income | $1,286.0M | $1,428.9M | $1,571.8M | 70% |
| Net Sales | $7,499.4M | $7,652.4M | $7,882.0M | 20% |
| ESG Objectives | N/A | 100% achievement | >100% achievement | 10% |
- Payouts:
- Threshold Payout: $444,519
- Target Payout: $1,778,077
- Maximum Payout: $3,378,346
- Evaluation Period: Fiscal Year 2024
- Vesting: Cash-based award with no vesting schedule
Performance Units
| Metric | Shares Awarded |
|---|---|
| Threshold (50% of Target) | 12,507 shares |
| Target (100% of Target) | 25,014 shares |
| Maximum (200% of Target) | 50,028 shares |
- Grant Date: June 15, 2023
- Grant Date Fair Value: $3,891,428
- Performance Period: May 1, 2023 – April 30, 2026
- Performance Metrics: 75% weight for Adjusted EPS and 25% weight for Average Net Sales Growth
- Vesting: Three-year cliff vesting at the end of the performance period
Restricted Stock
| Detail | Value |
|---|---|
| Number of Shares Granted | 8,338 shares |
| Grant Date Fair Value | $1,297,143 |
| Grant Date Stock Price | $155.57 |
| Vesting Schedule | 5,790 shares on June 15, 2024 ; 5,788 on June 15, 2025 ; 2,779 on June 15, 2026 |
- Conditions: Vesting is service-based; unvested shares are forfeited upon voluntary departure unless specific conditions (retirement, disability, death) are met
Option Awards
| Detail | Value |
|---|---|
| Number of Options Granted | 36,997 options |
| Grant Date Fair Value | $1,297,115 |
| Grant Date Stock Price | $153.21 |
| Vesting Schedule | 12,331 options on June 15, 2024 ; 12,331 on June 15, 2025 ; 12,335 on June 15, 2026 |
- Conditions: Time-based vesting with a double-trigger provision in the event of a change in control