Timothy P. Smucker and Richard K. Smucker will retain their co-CEO titles, but the former (previously chairman) now becomes chairman of the board, while the latter (previously president) becomes executive chairman.
Vincent C. Byrd was promoted from senior VP of the company's consumer business to president of the newly created coffee strategic business area (SBA). Byrd is commencing integration work with Smucker's' internal team and the P&G/Folgers teams.
Steven Oakland was promoted from VP of the oils/baking SBA to president of the consumer business. Mark Smucker, previously VP international, was promoted to president of the special markets SBA unit, which includes the company's food service and beverage groups and Canadian and international operations.
Paul Smucker Wagstaff was promoted from VP food service and beverage markets to president of the oils/baking SBA. Barry Dunaway was promoted from VP corporate development to senior VP of the newly created corporate and organization development office, overseeing M&A's and human resources.
The Folgers acquisition, which will add about $1.8 billion in annual sales and 1,250 employees to Smucker's, is expected to close in this year's fourth quarter.