McCormick Management

Management criteria checks 3/4

McCormick's CEO is Brendan Foley, appointed in Jun 2022, has a tenure of 1.83 years. total yearly compensation is $5.21M, comprised of 18.3% salary and 81.7% bonuses, including company stock and options. directly owns 0.038% of the company’s shares, worth €7.08M. The average tenure of the management team and the board of directors is 2.5 years and 8.7 years respectively.

Key information

Brendan Foley

Chief executive officer

US$5.2m

Total compensation

CEO salary percentage	18.3%
CEO tenure	1.8yrs
CEO ownership	0.04%
Management average tenure	2.5yrs
Board average tenure	8.7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Brendan Foley's remuneration changed compared to McCormick's earnings?
Date	Total Compensation	Salary	Company Earnings
Feb 29 2024	n/a	n/a	US$708m
Nov 30 2023	US$5m	US$954k	US$681m
Aug 31 2023	n/a	n/a	US$647m
May 31 2023	n/a	n/a	US$700m
Feb 28 2023	n/a	n/a	US$666m
Nov 30 2022	US$3m	US$852k	US$682m
Aug 31 2022	n/a	n/a	US$694m
May 31 2022	n/a	n/a	US$683m
Feb 28 2022	n/a	n/a	US$748m
Nov 30 2021	US$4m	US$790k	US$755m
Aug 31 2021	n/a	n/a	US$759m
May 31 2021	n/a	n/a	US$752m
Feb 28 2021	n/a	n/a	US$765m
Nov 30 2020	US$7m	US$758k	US$747m
Aug 31 2020	n/a	n/a	US$760m
May 31 2020	n/a	n/a	US$746m
Feb 29 2020	n/a	n/a	US$699m
Nov 30 2019	US$4m	US$723k	US$703m
Aug 31 2019	n/a	n/a	US$703m
May 31 2019	n/a	n/a	US$685m
Feb 28 2019	n/a	n/a	US$659m
Nov 30 2018	US$6m	US$676k	US$933m
Aug 31 2018	n/a	n/a	US$895m
May 31 2018	n/a	n/a	US$830m
Feb 28 2018	n/a	n/a	US$807m
Nov 30 2017	US$3m	US$595k	US$477m

Compensation vs Market: Brendan's total compensation ($USD5.21M) is about average for companies of similar size in the Austrian market ($USD4.43M).

Compensation vs Earnings: Brendan's compensation has increased by more than 20% in the past year.

CEO

Brendan Foley (57 yo)

1.8yrs

Tenure

US$5,213,174

Compensation

Mr. Brendan M. Foley serves as President of McCormick & Company, Incorporated since June 01, 2022 and serves as its Chief Executive Officer since September 1, 2023. He was Chief Operating Officer of McCorm...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Lawrence Kurzius	Executive Chairman of the Board	8.4yrs	US$12.60m	0.25% $ 47.6m
Brendan Foley	President	1.8yrs	US$5.21m	0.038% $ 7.1m
Michael Smith	Executive VP & CFO	7.6yrs	US$4.36m	0.042% $ 7.9m
Jeffery Schwartz	VP, General Counsel & Corporate Secretary	9.3yrs	US$3.20m	0.023% $ 4.4m
Sarah Piper	Chief Human Relations Officer	1.3yrs	US$1.78m	0.0015% $ 279.9k
Faten Freiha	Vice President of Investor Relations	no data	no data	no data
Lori Robinson	Vice President of Corporate Communications	13.3yrs	no data	no data
Kasey Jenkins	Chief Growth Officer	less than a year	no data	0.0010% $ 193.5k
Ana Sanchez	President of Europe & Middle East and Africa (EMEA)	2.3yrs	no data	0.0026% $ 480.9k
Andrew Foust	President of Americas	no data	no data	0.0021% $ 390.7k
Robert Conrad	VP & Treasurer	12.4yrs	no data	no data
Gregory Repas	VP & Controller	2.7yrs	no data	0.0024% $ 458.4k

2.5yrs

Average Tenure

53.5yo

Average Age

Experienced Management: MKC's management team is considered experienced (2.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Lawrence Kurzius	Executive Chairman of the Board	8.4yrs	US$12.60m	0.25% $ 47.6m
Brendan Foley	President	less than a year	US$5.21m	0.038% $ 7.1m
Michael Mangan	Lead Independent Director	17.3yrs	US$280.04k	0.017% $ 3.2m
Gary Rodkin	Independent Director	7.3yrs	US$250.04k	0.0040% $ 760.8k
Margaret Mary Preston	Independent Director	20.6yrs	US$250.09k	0.042% $ 7.9m
William Vernon	Independent Director	6.9yrs	US$270.09k	0.0039% $ 740.1k
Jacques Tapiero	Independent Director	11.6yrs	US$250.04k	0.011% $ 2.1m
Patricia Little	Independent Director	13.9yrs	US$250.04k	0.019% $ 3.6m
Terry Thomas	Director	less than a year	no data	0.00014% $ 26.3k
Maritza Montiel	Independent Director	8.9yrs	US$270.04k	0.0040% $ 747.6k
Michael Conway	Independent Director	9.3yrs	US$250.04k	0.0057% $ 1.1m
Anne Bramman	Independent Director	4.3yrs	US$250.09k	0.0020% $ 370.1k

8.7yrs

Average Tenure

65yo

Average Age

Experienced Board: MKC's board of directors are considered experienced (8.7 years average tenure).

McCormick Management

Management criteria checks 3/4

Key information

Recent management updates

McCormick & Company, Incorporated, Annual General Meeting, Mar 27, 2024

McCormick & Company, Incorporated Appoints Brendan Foley to its Board of Directors

Mccormick & Company, Incorporated Announces Malcolm Swift's Plan to Retire from President Global Flavor Solutions and Chief Administrative Officer

McCormick & Company, Incorporated, Annual General Meeting, Mar 29, 2023

McCormick & Company, Incorporated Appoints Sarah Piper to Chief Human Relations Officer

Insufficient new directors

Recent updates

First quarter dividend of US$0.42 announced

McCormick & Company, Incorporated Declares Quarterly Dividend, Payable on April 22, 2024

First quarter 2024 earnings released: EPS: US$0.62 (vs US$0.52 in 1Q 2023)

Mccormick & Company, Incorporated Reaffirms Earnings Guidance for the Year 2024

McCormick & Company, Incorporated to Report Q1, 2024 Results on Mar 26, 2024

Full year 2023 earnings released: EPS: US$2.54 (vs US$2.54 in FY 2022)

McCormick & Company, Incorporated Provides Earnings Guidance for the Fiscal Year 2024

McCormick® Introduces Flavor Maker Seasonings That Double as Topping & Ingredients

McCormick & Company, Incorporated, Annual General Meeting, Mar 27, 2024

Upcoming dividend of US$0.42 per share at 2.5% yield

McCormick & Company, Incorporated Announces Increase in Quarterly Dividend, Payable on January 8, 2024

McCormick & Company, Incorporated Delivers Flavorful Feast with Limited-Edition Holiday Doughnut Bites Collection

Investor sentiment deteriorates as stock falls 17%

Third quarter 2023 earnings released: EPS: US$0.63 (vs US$0.83 in 3Q 2022)

Mccormick & Company, Incorporated Reaffirms Earnings Guidance for Fiscal Year 2023

McCormick & Company, Incorporated Declares a Quarterly Dividend, Payable October 24, 2023

McCormick & Company, Incorporated to Report Q3, 2023 Results on Oct 03, 2023

McCormick & Company, Incorporated Provides Earnings Guidance for the Fiscal Year 2023

Second quarter 2023 earnings released: EPS: US$0.57 (vs US$0.44 in 2Q 2022)

McCormick & Company, Incorporated Appoints Brendan Foley to its Board of Directors

McCormick & Company, Incorporated Declares Quarterly Dividend, Payable on July 24, 2023

McCormick & Company, Incorporated to Report Q2, 2023 Results on Jun 29, 2023

Mccormick & Company, Incorporated Announces Malcolm Swift's Plan to Retire from President Global Flavor Solutions and Chief Administrative Officer

First quarter 2023 earnings released: EPS: US$0.52 (vs US$0.58 in 1Q 2022)

McCormick & Company, Incorporated, Annual General Meeting, Mar 29, 2023

McCormick & Company, Incorporated Provides Earnings Guidance for the Fiscal Year 2023

Full year 2022 earnings released: EPS: US$2.54 (vs US$2.83 in FY 2021)

Upcoming dividend of US$0.39 per share

McCormick & Company, Incorporated Appoints Sarah Piper to Chief Human Relations Officer

McCormick & Company, Incorporated Declares an Increase in the Quarterly Dividend on Its Common Stocks, Payable January 9, 2023

Insufficient new directors

Now 20% undervalued after recent price drop

McCormick & Company, Incorporated Announces Retirement of Lisa Manzone, Senior Vice President, Human Relations, Effective December 31, 2022

President & COO recently sold €411k worth of stock

Third quarter 2022 earnings released

McCormick & Company, Incorporated Reaffirms Outlook for Fiscal Year 2022

McCormick & Company, Incorporated Declares Quarterly Dividend on Its Common Stocks, Payable October 25, 2022

McCormick & Company, Incorporated Provides Earnings Guidance for the Third Quarter Ended August 31, 2022 and Full Year 2022

Del Monte Foods, Inc. acquired Certain Assets Associated with the Kitchen Basics Brand of Ready-to-use Stock and Broth from McCormick & Company, Incorporated (NYSE:MKC) for $99 million.

Independent Director recently sold €202k worth of stock

Second quarter 2022 earnings released

McCormick & Company, Incorporated Updates Earnings Guidance for the Fiscal Year Ending November 30, 2022

McCormick & Company, Incorporated Declares Quarterly Dividend, Payable on July 25, 2022

Insufficient new directors

McCormick & Company, Incorporated Appoints Brendan Foley as Chief Operating Officer and President, Effective June 01, 2022

French's Releases New Creamy Mustard Spreads

The McCormick Debuts 24 "Carrot" Gold Digital Easter Recipe "Hunt" and Sweepstakes

McCormick & Company, Incorporated Declares Quarterly Dividend, Payable on April 25, 2022

McCormick & Company, Incorporated Reiterates Earnings Guidance for the Fiscal Year 2022

McCormick & Company, Incorporated, Annual General Meeting, Mar 30, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

McCormick & Company, Incorporated Provides Earnings Guidance for the Fiscal Year 2022

Upcoming dividend of US$0.37 per share

Third quarter 2021 earnings released: EPS US$0.79 (vs US$0.77 in 3Q 2020)

Heifer International and McCormick & Company Announce Partnership to Support Sustainable Incomes for Spice Farmers in Guatemala

Second quarter 2021 earnings released: EPS US$0.69 (vs US$0.74 in 2Q 2020)

Mccormick & Company, Incorporated Provides Earnings Guidance for the Year Ending November 30, 2021

McCormick & Company, Incorporated(NYSE:MKC) dropped from Russell 1000 Growth-Defensive Index

First quarter 2021 earnings released: EPS US$0.61 (vs US$0.54 in 1Q 2020)

McCormick & Company, Incorporated Announces Earnings Guidance for the Full Year 2021

French's Mustard Releases Limited-Edition MustSwitch Sandwich and Pop-Up Carry-Out

McCormick & Company, Incorporated, Annual General Meeting, Mar 31, 2021

New 90-day low: €72.71

Full year 2020 earnings released: EPS US$2.81 (vs US$2.65 in FY 2019)

Revenue misses expectations

New 90-day low: €75.07

New 90-day low: €75.79

McCormick & Company, Incorporated (NYSE:MKC) acquired FONA International, Inc. from Slawek family for $710 million.

New 90-day low: €75.82