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McCormick's Alan D. Wilson on Pricing, Innovation and the 'Romance of Spice'
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McCormick's Alan D. Wilson on Pricing, Innovation and the 'Romance of Spice'

Knowledge at Wharton·@HashtagPLUS·about 1 month ago
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In three years as CEO of spice maker McCormick, Alan D. Wilson has been charged with steering the company through difficult economic times and periods of extreme volatility in commodities prices. Founded in 1889 and based near Baltimore, McCormick recently reported 2010 fourth quarter sales of $979.5 million, a 6% increase over the previous year. But the company also noted that hikes in the cost of products such as dehydrated garlic, black pepper and cinnamon spurred a 3% uptick in the prices of spices McCormick sells to restaurants, supermarkets and other retailers. It is likely that the increase will result in higher prices for consumers buying from the grocery shelf. Wilson joined McCormick in 1993 and served in several managerial roles before becoming chairman and CEO in 2008. Prior to joining the company, he worked at Procter & Gamble for nine years.…

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