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"While our second quarter sales performance did not meet our expectations, we delivered EPS growth ahead of our projection, reflecting our commitment to maintain financial discipline and strengthen our bottom line," said Mark Smucker, president and CEO. "Despite continuing softness for our premium dog food offerings, we were pleased with the performance for the balance of our portfolio, as the momentum for our cat food and pet snacks businesses continued with year over year sales increases, our high growth coffee brands improved household penetration and market share, and Smucker's(R) Uncrustables(R) grew 19 percent, helping accelerate growth in snacking. Looking ahead, the actions we are taking across the Company, including the recently announced leadership changes, position us well for future long-term growth and shareholder value creation."

The J. M. Smucker Company announced an evolution of its executive leadership structure and team reporting to President and Chief Executive Officer, Mark Smucker. The new executive leadership structure is effective November 25, 2019. The company has announced the establishment of a Chief Operating Officer role and commenced a search process, inclusive of external candidates. This position will provide strategic and operational oversight of the Company's U.S. Pet Food and Pet Snacks, Coffee, Consumer Foods and North American Away From Home businesses, as well as its Operations and Supply Chain functions. Geoff Tanner, Senior Vice President, Growth and Consumer Engagement, has been elected Chief Marketing and Commercial Officer. In this role, Tanner will continue to lead the Company's Marketing, Innovation, Insights and eCommerce functions, while expanding his responsibilities to include the U.S. Retail Sales and Market Development functions. Jill Penrose, Senior Vice President, Human Resources and Corporate Communications, has been elected Chief People and Administrative Officer. In this role, Penrose will continue to lead the evolution and further integration of the Company's administrative functions, including Human Resources, Corporate Communications, Government Relations, Corporate Sustainability, Charitable Giving and Corporate Services, while expanding her responsibilities to include Information Services. Amy Held, Senior Vice President, Corporate Strategy, M&A and International, has been elected Chief Strategy and International Officer. In this role, Held will continue to lead the Company's Corporate Strategy, M&A and International functions. Jeannette Knudsen, Senior Vice President, General Counsel and Secretary, has been elected Chief Legal and Compliance Officer and Secretary. In this role, Knudsen will continue to lead the Company's Legal, Regulatory, Compliance and Risk Management functions. Tucker Marshall, Vice President, Finance, has been promoted to Senior Vice President and Deputy CFO and elected an Officer of the Company, effective November 25, 2019. He will succeed Belgya as CFO May 1, 2020, following the completion of the current fiscal year. As part of these executive leadership changes, Dave Lemmon, President, Pet Food and Pet Snacks, and Kevin Jackson, Senior Vice President, U.S. Retail Sales and Away From Home, are no longer in leadership roles, effective today, and will officially be exiting the Company in early December. The Company has initiated a search process for both roles, inclusive of external candidates.

J. M. Smucker announced that Mark Belgya, Vice Chair and CFO, has communicated his decision to retire September 1, 2020. Following a comprehensive internal and external search, Tucker Marshall, Vice President, Finance, has been elected to succeed Belgya as CFO, reporting to President and CEO, Mark Smucker.