18 Sep 2018 07:00
Appointment of Chairman and Board changes
PureCircle (LSE: PURE), the world's leading producer and innovator of stevia ingredients, announces that Paul Selway-Swift, who has been Chairman of the Company since 2007, will retire from the Board at the conclusion of this year's Annual General Meeting, which will be held on Friday, 30th November. The Board has resolved that, subject to him being re-elected a Director at the forthcoming AGM, John Slosar will succeed Paul Selway-Swift as Chairman. John has also been appointed as a member of the Nomination, Remuneration and Disclosure Committees with effect from 19 September 2018.
Mr. Slosar has been an Independent Non-Executive Director of PureCircle since July 2017 and prior to that served as a Director from 2007 to 2014. Mr Slosar is currently Chairman and a Director of Cathay Pacific Airways Limited and a Director of Air China Limited.
In addition, the Board has appointed Ms. Rosemarie S. Andolino and Ms. Ann Marie Scichili as Independent Non-Executive Directors and as members of the Audit Committee respectively, with effect from 19th September 2018. Details of both new directors can be found below.
Paul Selway-Swift said "it has been a fulfilling experience to lead the board through the first eleven years of PureCircle's evolvement as a quoted company going from AIM market to being listed on the premium segment of the London Stock Exchange plc's Main Market. There have been many challenges but I believe the Company is in good shape for the next phase of its growth with sound leadership and an experienced board which will be ably led by John Slosar. I particularly welcome the appointment of Ms. Rosemarie S. Andolino and Ms. Ann Marie Scichili to our board where I am sure some female perspective can only enhance board discussions and decisions"
John Slosar commented:
"I am delighted to succeed Paul Selway-Swift as Chairman and I look forward to taking on the chairmanship and continuing to work with the Company towards delivering its objectives.
On behalf of the Board, I would also like to take this opportunity thank Paul for his stewardship and significant contribution to PureCircle's Board and its Committees since floatation. His experience and insights have all been invaluable. He will be much missed and we wish him a happy retirement."
Rosemarie S. Andolino
Rosemarie S. Andolino, 51, serves as CEO and President of MAG USA overseeing the development of MAG's North American airport services business.
MAG USA was launched in June 2015 and is a division of the Manchester Airports Group (MAG), a global airport company that owns and operates three UK airports.
Prior to joining MAG USA, Rosemarie served as Commissioner of the Chicago Department of Aviation. During her more than 12 years in the Department of Aviation, she was responsible for the management and operation of one of the world's busiest airport systems during a period of rapid expansion and redevelopment. She revived the organization's focus on customer service as well as leading the US$26 million redevelopment of O'Hare's international terminal, which drove record growth in retail and commercial revenues.
As Commissioner, she also oversaw the $8 billion O'Hare Modernization Program, which reconfigured the airport's complicated intersecting runways to improve efficiency and enhance the travellers experience. This infrastructure program was implemented ahead of time, under budget and without disruption to one of the world's busiest airfields.
In addition, Rosemarie sits on several boards and committees including the Illinois Sports Facilities Authority; the US Department of Transportation National Advisory Committee on Travel and Tourism Infrastructure; and JDRF Illinois fundraising committee.
Rosemarie received a Bachelor of Science degree in Marketing/Advertising with a minor in Spanish from DePaul University.
Ann Marie Scichili
Ann Marie Scichili, aged 59, is a leading business and product development strategist with deep expertise in the fashion industry having worked in countries ranging from the US, Asia and throughout Europe. She is the founder of AMS Design Inc., an international fashion consultancy, since 1992 and Member of Advisory Committee, Consultant at Value Retail PLC since 1994. During a career that spans 30 years, she developed and managed some of the most iconic brands, including Banana Republic, Donna Karan and Lucy Brand Jeans. Further, she is a founding member of the Elton John AIDS Foundation and a member of The Circle, a charitable organisation set up by Annie Lennox and Oxfam.
Ann Marie is an Independent Non-Executive Director at Global Brands Group Holding Limited (where Paul Selway-Swift is also an Independent Non-Executive Director) and she has lectured at St Martins College in London and developed courses for Polimoda International Institute for Fashion and Marketing in Italy.
She graduated from the University of Texas with a Bachelor of Science and Arts degree.
On the above changes to the Board, Mr. John Slosar, Chairman-Designate of PureCircle, said "We are very pleased to welcome both Rosemarie S. Andolino and Ann Marie Scichili as Independent Non-Executive Directors to the Board. They both bring with them a wealth of diverse and complementary experience to the PureCircle board. In particular, Rosemarie's leadership, strategic overview and operational skills and Ann Marie's international experience in marketing; communications; and commercial skills are valuable and will greatly help us as we focus on building the future success of PureCircle."
In relation to the above changes to the Board, no further information is required to be disclosed pursuant to Listing Rules LR 9.6.11R.
18 September 2018
Enquiries:
Investors/Analysts
Rakesh Sinha, CFO
Email: Rakesh.sinha@purecircle.com
Media
Emma Kane (Redleaf), Media Relations
Email: media@purecircle.com Phone: +44 (0)20 3757 6860
Notes to Editors
About PureCircle
PureCircle is the only company that combines advanced R&D with full vertical integration from farm to high-quality, great-tasting innovative stevia sweeteners. The Company collaborates with farmers who grow the stevia plants and with food and beverage companies which seek to improve their low- and no-calorie formulations using a sweetener from plants. PureCircle will continue to: lead in research, development and innovation; produce a growing supply of multiple varieties of stevia sweeteners with sugar-like taste, using all necessary and appropriate methods of production; and be a resource and innovation partner for food and beverage companies. PureCircle stevia flavor modifiers work in synergy with sweeteners to improve the taste, mouthfeel and calorie profile, and enhance the cost effectiveness, of beverage and food products.Founded in 2002, PureCircle is continually investing in breakthrough research and development and it currently has 72 stevia-related approved patents and 200 pending. PureCircle has offices around the world with the global headquarters in Chicago, Illinois. To meet growing demand for stevia sweeteners, PureCircle is rapidly ramping up its supply capability. It completed expansion of its Malaysian stevia extract facility in March 2017, increasing its capacity to rapidly supply the newer and great-tasting specialty stevia sweeteners and helping provide ever-increasing value to its customers. PureCircle's shares are listed on the main market of the London Stock Exchange. For more information, visit: www.purecircle.com
About stevia
Given the growing global concerns about obesity and diabetes, beverage and food companies are working responsibly to reduce sugar and calories in their products, responding to both consumers and health and wellness advocates. Sweeteners from the stevia plant offer sugar-like taste and are becoming an increasingly important tool for these companies. Like sugar, stevia sweeteners are from plants. But unlike sugar, they enable low-calorie and zero-calorie formulations of beverages and foods. Stevia leaf extract is a natural-based, zero calorie, high-intensity sweetener, used by global food and beverage companies as a great-tasting zero-calorie alternative to sugar and artificial sweeteners. Stevia is a naturally sweet plant native to South America; today, it is grown around the world, notably in Kenya, China and the US. The sweet-tasting parts of the stevia leaf are up to 400 times sweeter than sugar: stevia's high-intensity sweetness means it requires far less water and land than sugar. Research has shown that the molecules of the stevia leaf are present and unchanged in the dried stevia leaf, through the commercial extraction and purification process, and in the final stevia leaf extract product. All major global regulatory organisations, across 65 countries, have approved the use of high-purity stevia leaf extracts in food and beverages. For more information on the science of stevia, please visit https://www.purecirclesteviainstitute.com/
Appendix - Ms. Andolino's and Ms. Scichili's List of Directorships and Partnerships
Ms. Rosemarie S. Andolino
Current Directorships/Partnerships | Ceased Directorships/Partnerships in the past 5 years |
Nil | Nil |
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Ms. Ann Marie Scichili
Current Directorships/Partnerships | Ceased Directorships/Partnerships in the past 5 years |
Global Brands Group Holding Limited | Nil |
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