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Smucker plans to replace CEO Richard Smucker with his nephew

from Bloomberg Business

J.M. Smucker Co. Chief Executive Officer Richard K. Smucker plans to hand the reins to his nephew, Mark T. Smucker, keeping the foodmaker's top position within the founding family. Richard Smucker will become executive chairman, replacing Timothy P. Smucker, who'll transition to the role of chairman emeritus, the Orrville, Ohio-based company said Monday in a statement. Timothy Smucker is Mark's father. The changes are effective May 1. more

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