McCormick & Company Announces Executive Leadership Change
McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, has announced the promotion of Marcos Gabriel to Executive Vice President and Chief Financial Officer (CFO), effective December 1, 2024. On that date, Mike Smith will transition to the role of Executive Vice President until his retirement on February 28, 2025. Mr. Smith has served as Executive Vice President and CFO since 2016.
“Mike has been an integral leader for McCormick for more than three decades,” said Brendan M. Foley, President and Chief Executive Officer (CEO) of McCormick. “Under his leadership as CFO, sales grew at an industry-leading pace of over 50%, delivering significant shareholder value. His strategic leadership and focus on value creation have driven top-tier organic growth and the successful acquisition of iconic brands like Frank’s RedHot, French’s, Cholula, and the FONA flavor business. Mike’s deep knowledge of our global organization and his effective execution of our Comprehensive Continuous Improvement (CCI) and other transformation initiatives have fueled our investments to drive long-term, differentiated, and profitable growth. His transformational leadership and belief in talent development helped McCormick build a world-class global finance organization. I thank him for his contributions and congratulate him on his upcoming retirement.”
In his new role as Executive Vice President and CFO, Mr. Gabriel will lead the company’s global finance organization and global business services team. He will report to Brendan Foley, President and CEO, and will be a member of the Company’s Management Committee. Mr. Gabriel, currently Senior Vice President, Global Finance and Capital Markets, joined McCormick in 2017 as CFO, Americas and has also served as Chief Transformation Officer, leading the global team responsible for driving enterprise-wide initiatives to enable effectiveness and growth. Prior to joining McCormick, Mr. Gabriel held various leadership roles at Avon, Unilever, and Eli Lilly across Europe, North America, and Latin America. He currently serves on the Board of Directors for the National Life Group.
“Marcos is a proven global leader with over twenty-five years of experience in the Consumer Products industry. Over the last seven years, he has served in key senior leadership roles at McCormick, contributing significantly to our track record of profitable growth and improved productivity,” said Brendan M. Foley. “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. I am thrilled to congratulate Marcos on his promotion and look forward to continuing to partner with him to deliver long-term profitable growth and drive value for shareholders.”
