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J.M. Smucker Promotes Employees Ahead Of Merger

Richard K. Smucker, Vincent C. Byrd, Steven Oakland, Mark Smucker, Paul Smucker Wagstaff, and Barry Dunaway promoted as Smucker integrates Folgers' coffee business.

ORVILLE, Ohio (AP) -- The J.M. Smucker Co. said Thursday it promoted several employees as it begins to integrate the Folgers coffee business.

Smucker said on June 4 that it agreed with Procter & Gamble to merge Folgers into Smucker, adding about $1.8 billion in annual sales and 1,250 employees to the company.

The merger is expected to be completed in the fourth quarter.

Richard K. Smucker will be executive chairman, along with his current roles as president and co-chief executive officer.

Vincent C. Byrd was promoted to president of the new coffee strategic business area from senior vice president of its consumer business. Byrd, who has worked at Smucker for 31 years, will work with teams at both companies to help smooth the integration of Folgers.

Steven Oakland was promoted to president of the consumer business. Oakland previously served as vice president of the Smucker oils and baking segment.

Mark Smucker was promoted to president of the special markets segment, which includes foodservice and beverage groups as well as Canadian and international operations. Smucker last served as vice president of international operations.

Paul Smucker Wagstaff was named president of the oils and baking from vice president of foodservice and beverage markets.

Barry Dunaway, formerly vice president of corporate development, was chosen senior vice president of the newly created corporate and organization development office, which is responsible for mergers and acquisitions and human resources. Dunaway has been with the company for 21 years.

Smucker shares closed at $55.70 Wednesday. The stock has ranged between $40.18 to $56.69 in the last 52 weeks.