Tate & Lyle New Chief Executive
Tate Lyle PLC (the “Company”) announces that Javed Ahmed will join the Company as its new Chief Executive by 15 November 2009. Iain Ferguson, currently Chief Executive of Tate Lyle, will continue in that role until Mr Ahmed’s arrival and ensure an orderly handover.
Mr Ahmed is currently Executive Vice President, Europe for Reckitt Benckiser plc (“Reckitt”). He is a member of the Executive Committee of Reckitt having held a number of senior leadership roles within the group over the last 17 years in both Europe and North America.
Sir David Lees, Chairman of Tate Lyle, said “Following our earlier announcement that Sir Peter Gershon will succeed me as Chairman by the end of the year, Peter and I are delighted that we are able to announce the succession arrangements for Iain Ferguson. We are most grateful to Iain for leading the transformation of the Group with such great skill and energy over the past six years. His contribution has been very significant and will continue as he leads the team in the next few months until Javed Ahmed joins us. We are confident that, in Javed, we have found a worthy successor to Iain to lead Tate Lyle in the next phase of its development.”
Sir Peter Gershon said “I congratulate Javed Ahmed on this exciting new opportunity and very much look forward to working with him in the years to come as we build on the strong foundations Iain and Sir David have established at Tate Lyle.”
Javed Ahmed said “I am delighted to have been offered the opportunity to lead Tate Lyle, and look forward to working with the Board and the management team to drive the business forward.”
END
Tate Lyle operates through two global business units, Speciality Food Ingredients and Bulk Ingredients, supported by Innovation and Commercial Development. The Group's strategy is to become the leading global provider of Speciality Food Ingredients through a disciplined focus on growth, and by driving the Bulk Ingredients business for sustained cash generation to fuel this growth.
Speciality Food Ingredients include starch-based speciality ingredients (corn-based speciality starches, sweeteners and fibres), no calorie sweeteners (including SPLENDA® Sucralose) and Food Systems which provides blended ingredient solutions. Bulk Ingredients include corn-based bulk sweeteners, industrial starches and fermentation products (primarily acidulants). The co-products from both divisions are primarily sold as animal feed.
Tate Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year to 31 March 2012, Tate Lyle sales totalled £3.1 billion. http://www.tateandlyle.com. SPLENDA® is a trademark of McNeil Nutritionals, LLC
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