US spice and condiments maker McCormick & Co has announced the appointment of Michael Smith as executive VP and CFO with effect from 1 September 2016.

Smith, who is currently senior VP for corporate finance, will succeed Gordon Stetz, who is to retire. However, McCormick said Stetz will continue with the company as executive VP until his retirement date of 31 December.

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Stetz has served as executive VP and CFO since 2007 and has been a member of McCormick’s board since 2011.

Smith joined McCormick in 1991 and has served as a financial leader across North America and in the company’s Europe, Middle East and Africa region, with financial responsibility for the consumer and industrial segments. In his new role, he will oversee the company’s global finance organisation, as well as McCormick shared services and information technology. Smith will report to president & CEO Lawrence Kurzius and will be a member of the company’s management committee.

Last April, McCormick acquired Australian chilled herb manufacturer Botanical Food Co., the owner of the Gourmet Garden brand, in a AUD150m (US$114m) deal.

The deal was announced just a week after McCormick dropped its pursuit of Premier Foods plc after the UK group rebuffed three proposed bids for the business.

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