McCormick & Company, Incorporated, a global leader in flavor, announced the promotion of Michael R. Smith to Executive Vice President & Chief Financial Officer (CFO) for the company effective September 1, 2016.
On that date, Gordon M. Stetz will continue with the company as Executive Vice President until his retirement on December 31, 2016. Mr. Stetz served as Executive Vice President & CFO since 2007 and a member of McCormick's Board of Directors since 2011.
In his new role, Mr. Smith will oversee the company's global finance organization, as well as McCormick shared services and information technology. He will report to President & Chief Executive Officer, Lawrence E. Kurzius and will be a member of the company's Management Committee, following his work with that group for the past year.
Mr. Smith, who is currently Sr. Vice President, Corporate Finance, joined McCormick in 1991 and served as a financial leader across North America and in the company's Europe, Middle East and Africa region, with financial responsibility for the consumer and industrial segments. He has had responsibility for controllership and finance activities, and provided financial leadership in strategic planning, cost management, shared services and acquisitions. Mr. Smith is a CPA and prior to joining McCormick, he began his career in public accounting at Coopers & Lybrand.
McCormick & Company, Incorporated is a global leader in flavor. With $4.3 bill. in annual sales the company manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and foodservice businesses.