(Alliance News) - PureCircle Ltd on Tuesday said it has hired Peter Lai Hock Meng as chief executive officer effective from March 2, and amended the start date of recently-hired Chief Financial Officer Lim Kian Thong.
New Chief Financial Officer Lim Kian Thong was initially hired to begin on February 1. However, his start date has been changed to February 4.
Peter Lai Hock Meng - who will take over the leadership role from Interim Chief Executive & Non-Executive Chair John Slosar - is currently chair at PureCircle's China subsidiary PureCircle (Jiangxi) Co Ltd. He was previously non-executive director at PureCircle from June 2008 until March 2017.
Slosar will continue in his role of non-executive chair.
PureCircle also said Stephane Ducroux has been hired as deputy chief executive effective immediately. Ducroux has over 20 years of management experience in natural specialty ingredients as well expertise in commercial operations, business development and acquisitions, the company said.
"Both Peter and Stephane have an intimate understanding of the PureCircle business, our valued customer base and the global market opportunity for stevia as a natural sweetener and replacement for sugar," said Chair & Interim Chief Executive John Slosar.
"I am confident that, together with Jimmy as our incoming chief financial officer and our operations and R&D leaders, we have a strong and experienced executive team with the right skill-set to drive future growth and generate significant value from the market-leading IP we have created and own," he added.
Magomet Malsagov has now resigned from his role as adviser to the board chair, PureCircle confirmed. "We would like to thank Maga Malsagov for his vision in founding and building PureCircle", Slosar said.
PureCircle shares were suspended in London, last quoted at 131.20 pence each. The shares were suspended from trading due to its failure publish its results for the year to June 30, 2019.
By Ife Taiwo; ifetaiwo@alliancenews.com
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