USA- Flavor, seasoning, and spice leader McCormick & Company has appointed former Chief Transformation Officer (CTO) Marcos Gabriel as Executive VP and Chief Financial Officer (CFO).
The appointment will take effect from December 1, 2024. Gabriel will succeed a retiring Mike Smith, who served as the company’s CFO from 2016 and worked for the flavor giant for more than three decades.
Smith has been integral to the company’s growth over the years. He has initiated and overseen various strategic efforts geared towards maximizing customer satisfaction.
Brendan M Foley, McCormick & Co.’s CEO, said, “His [Mike’s] strategic leadership and focus on value creation have been instrumental in driving top-tier organic growth and the successful acquisition of iconic brands like Frank’s RedHot, French’s, and Cholula.”
“Since he stepped into the role as CFO, sales grew at an industry-leading pace of over 50%, and we delivered significant shareholder value.”
Gabriel will oversee the company’s global financial operations and business service team. As the former CFO for the North American region, Gabriel will bring valuable experience and expertise to McCormick & Co. in digital transformation, finance and business development.
The new CFO has over 25 years of experience in the consumer goods industry. The company’s CEO described him as a ‘proven global leader.’
The CEO added, “Marcos is a strategic leader, and his expertise in finance, digital transformation, and business development across major multinational companies will be instrumental as we continue to advance our leadership and differentiation.”
He served in various leadership roles in Unilever, Avon, and Eli Lilly across Latin and North America, as well as Europe, before joining the flavor and spice company.
As CTO, he is credited with leading the global team and driving enterprise-wide initiatives that helped facilitate growth.
The new CFO will report to the CEO and the company’s management committee.
Gabriel is appointed at a significant transition period for the company marked by several high-profile, strategic appointments. In March Anju Rao was appointed the company’s Chief Science Officer (CSO), in charge of the company’s R&D, regulatory and quality functions in a move meant to enhance the quality of product offerings.
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