US food giant McCormick & Co. has appointed Brendan Foley as CEO, succeeding Lawrence Kurzius, who held the position for over seven years. Kurzius, a widely respected figure known for his transformative leadership, will take on the role of executive chairman of the board. Foley assumed the role of president last year and has successfully overseen the integration of recent acquisitions, as well as the realignment of the Americas region to drive growth and innovation while reducing costs.
Kurzius expressed his confidence in Foley’s abilities, stating, “Over your past nine years at McCormick, you have a proven track record of delivering results as a leader. I am confident McCormick will build upon our success.” Foley, who has been with the company for over nine years and has vast experience in various roles, including president of the US consumer division, will now take on the responsibilities of CEO.
Kurzius, during his time as CEO, oversaw significant growth and expansion of McCormick & Co., including the acquisition of iconic brands such as Frank’s RedHot, French’s, and Cholula. He will be remembered as a transformational leader who led the company to achieve sales growth of over 50% and doubled market capitalization.
In a move to streamline operations and increase profit realization, McCormick & Co. recently announced job cuts. Despite facing challenges and volatility in the food and beverage industry in 2022, the company managed to achieve a 1% increase in sales for the year.
By appointing Foley as CEO, McCormick & Co. aims to continue its growth trajectory and further strengthen its position in the food and beverage industry. With Foley’s leadership and expertise, the company is well-positioned to navigate the ever-changing market landscape and deliver continued success.
