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Posted 02 May, 2022

MCCORMICK & CO INC appointed new CEO

CEO Change detected for ticker NYSE:MKC in a 8-K filed on 02 May, 2022.


  On May 2, 2022, McCormick & Company, Incorporated ("McCormick") announced the appointment of Brendan M. Foley as President and Chief Operating Officer of McCormick effective June 1, 2022. Lawrence E. Kurzius will remain McCormick's Chairman and Chief Executive Officer.  

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Overview of MCCORMICK & CO INC
Consumer Goods • Food Products
McCormick & Co., Inc. engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces. The Flavor Solutions segment includes seasoning blends, spices and herbs, condiments, coating systems, and compound flavors. The company was founded by Willoughby M. McCormick in 1889 and is headquartered in Baltimore, MD.
Market Cap
$18.4B
View Company Details
MCCORMICK & CO INC by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officer; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On May 2, 2022, McCormick & Company, Incorporated ("McCormick") announced the appointment of Brendan M. Foley as President and Chief Operating Officer of McCormick effective June 1, 2022. Lawrence E. Kurzius will remain McCormick's Chairman and Chief Executive Officer.


Mr. Foley, age 56, joined McCormick in 2014 and has held roles of increasing responsibility since that time, including: President - Global Consumer, Americas and Asia (February 1, 2020 to present), President - Global Consumer and Americas (June 19, 2017 to February 1, 2020), President - Global Consumer and North America (June 1, 2016 to June 19, 2017), President - North America (June 1, 2015 to June 1, 2016), and President - U.S. Consumer Products Division (June 2, 2014 to June 1, 2015).


Effective June 1, 2022, Mr. Foley will receive an annual base salary of $900,000 in connection with his new position. Mr. Foley will participate in McCormick's annual cash management incentive bonus program with a target award level equal to 120% of his annual base salary and a maximum award level equal to 240% of his annual base salary. Mr. Foley has not been granted any additional equity or other compensation awards in connection with the new position at this time, however, Mr. Foley will continue to participate in McCormick's long-term equity incentive compensation program at a level anticipated to be commensurate with his new position. Mr. Foley will also continue to participate in the other components of McCormick's executive compensation program, including various retirement and savings plans, health and welfare programs, and other benefits, which are described in McCormick's 2022 Proxy Statement.


There are no related party transactions involving Mr. Foley that are reportable under Item 404(a) of Regulation S-K.


A copy of McCormick's Press release entitled "Brendan Foley Named Chief Operating Officer and President for McCormick" is attached hereto as Exhibit 99.1.