The J.M. Smucker Company announced Thursday that it has added two new independent directors to its board following what the company described as a “constructive engagement” with Elliott Investment Management.
The food manufacturer revealed it has established an information-sharing partnership with Elliott aimed at creating “sustainable value” for all company shareholders.
The newly appointed board members are Woo-Sung Chung, who serves as chief financial officer at NRG Energy, and David Singer, the previous chief executive of snack food company Snyder’s-Lance.
Following the board appointments and the release of quarterly financial results that exceeded analyst expectations, Smucker’s stock price climbed almost 7% in pre-market trading.
