(qlmbusinessnews.com via telegraph.co.uk – – Tue, 16 Jan 2018) London, Uk –
Tate & Lyle’s chief financial officer Nick Hampton, a former Pepsico executive, is set to take over as boss of the UK ingredients giant when its current chief executive Javed Ahmed steps down in April.
The company, a member of the FTSE 250, is best known as a sugar producer, despite spinning off that division in 2010. It is now focused on producing other ingredients including sweeteners, starches and fibres and has been boosted in recent years by growing demand for sugar-free alternatives.
Gerry Murphy, the firm’s chairman, today thanked Mr Ahmed for his “exceptional leadership” of the business since 2009.
He said: “During his tenure, Tate & Lyle has been through a very significant strategic, operational and organisational transformation from a largely commodity business into the high-quality global food ingredients business it is today.”
Mr Hampton joined Tate & Lyle in 2014 after a 20-year career a Pepsico, which owns hundreds of food and drink brands including Walkers Crisps, Quaker Oats and Tropicana juice.
He said: “As global demand for healthier and tastier food continues to grow, this business has the opportunity to deliver meaningful benefits for our customers, employees, shareholders, and society at large, in the years ahead.”
Mr Murphy added: “Nick has been an outstanding chief financial officer with a strong track record of driving performance, building teams and capabilities, and focusing on key customers and markets. We are confident he has the experience, energy and vision to lead Tate & Lyle through the next phase of its development.”
Tate & Lyle’s shares were flat at 691p in morning trade.