After more than seven years as chairman and CEO, Kurzius is stepping down. Although leadership changes can be disruptive, McCormick is poised for a smooth transition as it will be led by an insider who has nearly a decade of experience with the company and has closely collaborated with Kurzius. During Kurzius’s tenure, McCormick, known for its Old Bay, Lawry’s, Zatarain’s, and signature products, experienced over 50% growth in sales, benefiting significantly from consumer demand for healthier eating without sacrificing flavor. The company also thrived during the pandemic, as consumers stocked up and spent more time cooking at home.
In recent years, McCormick has broadened its portfolio in the condiment sector through strategic acquisitions. In 2017, the company acquired Reckitt Benckiser’s Food Division for $4.2 billion, incorporating well-known brands like French’s mustard and Frank’s RedHot. Three years later, it bought hot sauce producer Cholula for $800 million. Kurzius and Foley have collaborated closely on key strategic initiatives that have driven the company’s growth. Foley was responsible for integrating McCormick’s recent acquisitions and realigning its Americas region to achieve scale, reduce costs, and enhance growth and innovation. With Kurzius remaining as chairman, Foley will have a valuable ally to draw on for insights.
In June 2022, Foley was appointed president with oversight of the company’s global operations. He is well-acquainted with the consumer packaged goods (CPG) sector, having spent fifteen years at H.J. Heinz, where he served as president of its North America Zone, and previously worked at General Mills. His extensive experience in understanding consumer trends and eating habits over two decades should serve him well in leading McCormick, especially as he navigates challenges such as inflation and supply chain disruptions that affect many companies. Given McCormick’s recent mergers and acquisitions activity, in which Foley was actively involved, he likely possesses a deep understanding of the firm’s future direction and potential deals that could facilitate that growth.
“With his passion for McCormick and dedication to advancing our commercial growth plans and execution, Brendan has a proven track record of delivering results as a leader,” stated Kurzius. “He recognizes the importance of sustaining our growth.” The leadership transition at McCormick is part of a broader trend of corporate turnover in the global food and beverage sector, with companies like Unilever, Hain Celestial, Jones Soda, and chocolate maker Barry Callebaut also announcing changes at the top in recent months. Additionally, with a focus on health, it is worth noting that many of McCormick’s products contribute to dietary needs, including those that provide essential nutrients such as calcium, which can be as high as 315 mg in certain offerings.