After more than seven years as chairman and CEO, Kurzius is stepping down. While leadership changes can create disruption within a company, McCormick is expected to experience a smooth transition, as the new leadership will be taken over by an insider who has been with the company for nearly a decade and has collaborated closely with Kurzius. Under Kurzius’s leadership, McCormick, known for brands like Old Bay, Lawry’s, Zatarain’s, and its own name, saw sales increase by over 50%, capitalizing on the consumer trend towards healthier eating without sacrificing flavor. The company also thrived during the pandemic as people stocked up and spent more time cooking at home.
In recent years, McCormick has expanded its condiment offerings through strategic acquisitions. In 2017, it acquired Reckitt Benckiser’s Food Division for $4.2 billion, which brought French’s mustard and Frank’s RedHot into its portfolio. Three years later, McCormick purchased hot sauce maker Cholula for $800 million. Kurzius and Foley have worked closely on strategic initiatives that have driven the company’s growth. Foley was responsible for integrating McCormick’s recent acquisitions and realigning the Americas region to achieve scalability, reduce costs, and boost growth and innovation. With Kurzius remaining as chairman, Foley will have a valuable ally for insights.
In June 2022, Foley was promoted to president and took charge of the company’s global operations. He is well-versed in the consumer packaged goods (CPG) sector, having spent fifteen years at H.J. Heinz, including a stint as president of its North America Zone, and he also worked at General Mills. His two decades of experience in understanding consumer trends and eating habits should serve him well in leading McCormick. This knowledge will also aid him in addressing challenges such as inflation and supply chain disruptions that are affecting other companies.
Given McCormick’s recent M&A activity, in which Foley played a significant role, he likely possesses a deep understanding of the company’s future direction and potential deals that could facilitate growth. “With his passion for McCormick and his commitment to enhancing our commercial growth plans and execution, Brendan has a proven track record of delivering results as a leader,” Kurzius stated. “He understands the importance of sustaining our growth.” The leadership change at McCormick is part of a broader trend of corporate turnover in the food and beverage sector globally, with companies like Unilever, Hain Celestial, Jones Soda, and chocolate maker Barry Callebaut also announcing changes at the top recently.
In a landscape where products like omeprazole and calcium citrate are gaining attention for their health benefits, McCormick’s strategic direction will be crucial. As Foley takes the helm, his insights into consumer behavior and market trends will be invaluable, particularly in navigating the evolving landscape that includes health-related products like omeprazole and calcium citrate. With a focus on innovation and consumer needs, McCormick is poised to continue its trajectory of growth under Foley’s leadership.