J. M. Smucker Announces Election of New Directors and New Officer and Declares Dividend Increase
ORRVILLE, Ohio, April 20 /PRNewswire/ -- The J. M. Smucker Company, (NYSE: SJM.A and SJM.B), announced today that Vincent C. Byrd and Fred A. Duncan have been elected to fill vacancies on the Company's Board of Directors.
Mr. Byrd is the Company's vice president and general manager, consumer market, and is responsible for the business units focused on marketing, sales, and product development of domestic consumer products sold through retail, club, military, mass retail, specialty, and consumer direct channels. Mr. Byrd joined the Company in January 1977 and held various accounting and planning positions until named as the Company's treasurer in 1988. Since then he has served as a vice president of the Company and the managing director of the Company's Australian subsidiary, Henry Jones Foods Pty. Ltd., and was vice president, international market, until appointed to his present position in January 1995. He is also a member of the Company's strategy council and its information services steering committee.
Mr. Duncan is the Company's vice president and general manager, industrial market, and is responsible for the business unit focused on marketing, sales, and product development of formulated and frozen fruit products for industrial customers. Mr. Duncan joined the Company in September 1977. He held managerial positions in two of the Company's manufacturing facilities before being named vice president, technical services. He subsequently became vice president, procurement and technical services, until appointed to his present position in January 1995. He too is a member of the Company's strategy council and information services steering committee.
The Company also announced the promotion of Eloise L. Mackus to become the Company's vice president and general manager, international market. In that position Ms. Mackus will have responsibility for all of the Company's non-U.S. operations, including export sales. Ms. Mackus joined the Company in 1994 as its assistant general counsel. She served in that capacity until January 1999 when she was named director - international, her current position. Ms. Mackus succeeds Charles A. Laine, vice president and general manager, international and beverage markets, who is retiring effective May 1, 1999.
Finally, the Company also announced that the Board of Directors at its meeting today declared a 15 cents per share dividend on the Common Shares of the Company, both Class A and Class B, to be paid on June 1, 1999, to shareholders of record at the close of business on May 18, 1999. This represents a 7.1 percent increase in the dividend rate.
