SPARKS, MD. — Michael R. Smith has been promoted to executive vice-president and chief financial officer of McCormick & Co., Inc., effective Sept. 1.
Currently, Smith is senior vice-president of corporate finance for McCormick. He joined the company in 1991 and was a financial leader across North America and in McCormick’s Europe, Middle East and Africa region. Prior to joining McCormick, Smith began his career in public accounting at Coopers & Lybrand.
“Throughout his career, Mike has proven to be a talented financial leader with a track record that demonstrates an ability to help create value and growth,” said Lawrence E. Kurzius, president and chief executive officer of McCormick. “His energy and enthusiasm for this business is evident, and he has a deep knowledge of the company and strong relationships across the organization. He is an advocate of productivity improvement and led the work behind our recently announced goal to reduce $400 million of costs over the next four years. I congratulate Mike on this promotion and look forward to working with him as CFO as we continue to drive the growth strategy of this great company.”
|Gordon M. Stetz, current executive vice president and CFO of McCormick|
Smith will replace Gordon M. Stetz, who has been McCormick’s executive vice-president and CFO since 2007. Stetz plans to continue as executive vice-president until his retirement on Dec. 31.
“Gordon has been a vital leader and a driving force in delivering exceptional returns to McCormick shareholders,” said Alan D. Wilson, executive chairman of McCormick. “During his 28 years with the company, he built a world-class finance team that has created value and insight, balanced by financial controls. Gordon’s strategic leadership and focus on value creation have been instrumental in establishing our Comprehensive Continuous Improvement program, expanding our shared services around the world and driving our successful merger and acquisition agenda with the completion of 12 acquisitions and joint ventures during his time as c.f.o. Throughout his distinguished career, Gordon embodied the unique culture of teamwork and participative management at McCormick. I thank him for his many contributions and congratulate him on his retirement.”