Proven Leaders Join to Drive Value (Image Credits: Unsplash)
Orrville, Ohio – The J.M. Smucker Co. appointed two independent directors to its board following discussions with activist investor Elliott Investment Management.[1][2]
Proven Leaders Join to Drive Value
Executives with deep financial and consumer goods expertise now bolster the company’s oversight. Woo-Sung (Bruce) Chung, executive vice president and chief financial officer at NRG Energy, brings decades of experience in capital allocation, risk management, and mergers.[1] David Singer, former chief executive of Snyder’s-Lance, offers operational savvy from roles at Coca-Cola Consolidated and current board seats at Performance Food Group and Brunswick Corporation.[2]
The duo will start April 15, expanding the board to 11 members, with 10 independents focused on growth and profitability. Mark Smucker, the company’s chief executive, praised the additions as proven value-creators who accelerate business momentum. Their skills align with needs in brand-building and stewardship amid evolving markets.
Cooperation Forged Through Dialogue
Elliott Investment Management hailed the pact as a milestone after constructive talks. The firm, one of Smucker’s largest shareholders, secured the board seats plus an information-sharing deal to enhance shareholder returns. Marc Steinberg, a partner at Elliott, noted the company’s strong brands in resilient categories and viewed the changes as steps toward full potential.[3]…