Last checked at 16 Jan 2018 07:00
Tate & Lyle PLC – 16 January 2018
Nick Hampton Appointed Chief Executive of Tate & Lyle PLC
Tate & Lyle PLC (‘Tate & Lyle’ or ‘the Company’) is pleased to announce the appointment of Nick Hampton as Chief Executive of Tate & Lyle with effect from 1 April 2018. Nick is currently Chief Financial Officer and a Board member of Tate & Lyle.
Nick Hampton succeeds Javed Ahmed who, having served as Chief Executive of Tate & Lyle since October 2009, will step down from this role and from the Board, and retire from the Company, with effect from 1 April 2018.
Nick Hampton joined Tate & Lyle as Chief Financial Officer in September 2014 from PepsiCo where he had served as President West Europe and Senior Vice President Commercial Europe since 2013. Prior to that, during a 20-year career at PepsiCo, he held a number of senior finance and operational roles.
Commenting on today’s announcement, Gerry Murphy, Chairman of Tate & Lyle said:
“I am delighted to announce Nick Hampton’s appointment as Chief Executive of Tate & Lyle. 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. My fellow Board members and I look forward to working with Nick and our top team in the exciting years ahead.
“On behalf of the Board, I would like to thank Javed Ahmed for his exceptional leadership of Tate & Lyle over the last eight years. 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. Javed has led the Company with great skill, energy and commitment, and he leaves it in a very strong position. The Board and everyone at Tate & Lyle thank Javed for his outstanding service and contribution, and wish him every success and happiness in the years ahead.”
Nick Hampton said: “I am delighted and honoured to be appointed Tate & Lyle’s next Chief Executive. Tate & Lyle has a strong portfolio of ingredients, outstanding people, and deep technical expertise. 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. I look forward to working with Gerry, the Board, the management team, and all our employees to drive Tate & Lyle’s business forward.”
Javed Ahmed said: “It has been my great privilege to lead Tate & Lyle for the last eight years, which have involved a very significant reshaping of the business. Today, Tate & Lyle is a much stronger and higher quality business than it was eight years ago, and with Nick leading the Company along with its strong management team, it is in great hands."
The process to appoint a new Chief Financial Officer of Tate & Lyle is underway, and a further announcement will be made in due course.
For more information contact Tate & Lyle PLC:
Christopher Marsh, Group VP, Investor Relations Tel: +44 (0) 20 7257 2110 or Mobile: +44 (0) 7796 192 688
Andrew Lorenz, FTI Consulting (Media) Tel: +44 (0) 20 3727 1323 or Mobile: +44 (0) 7775 641 807
Notes:
1) Nick Hampton’s Biography
Nick Hampton started his career in 1989 with the management consultancy firm, Monitor, where he spent five years. In 1994, Nick joined PepsiCo where he spent a number of years in strategy and planning roles in Europe, the Middle East and Africa. After a period serving in procurement and logistics, in 2002 he was appointed Vice President, Operations for Walkers Snack Foods. In 2004, he was appointed Vice President Operations for PepsiCo UK and Ireland, and in 2005 added the role of Chief Financial Officer for the same area. In 2008, he became Senior Vice President and Chief Financial Officer, Europe, a position he held until 2013 when he was appointed PepsiCo’s President West Europe Region and Senior Vice President Commercial, Europe.
In September 2014, Nick joined Tate & Lyle PLC as Chief Financial Officer and as a member of the Board. He was appointed a Non-Executive Director of Great Portland Estates plc in October 2016. Nick holds a Master’s Degree in Chemistry from St. John’s College, Oxford University.
For rights free photos of Nick Hampton, please contact mediarelations@tateandlyle.com or call +44 (0)207-257-2209 or +44 (0)207-257-2100.
2) Remuneration Arrangements
As Chief Executive, Nick Hampton will receive an annual salary of £665,000 from 1 April 2018. His maximum levels of award under the bonus and Performance Share Plan as a percentage of salary are not changing.
Javed Ahmed will step down as Chief Executive and retire from the Company on 1 April 2018. His salary and other benefits will all cease as from this date. Any bonus due for 2017/18 will be determined and paid in due course in line with full year performance. His outstanding awards under the Performance Share Plan will remain subject to performance and will vest on the normal vesting dates and will be prorated in accordance with the applicable Scheme rules.
Full details of remuneration arrangements will be disclosed in the 2018 Annual Report to be published in June 2018.
3) About Tate & Lyle
Tate & Lyle is a global B2B food ingredients business with sales of £2.8 billion for year ended 31 March 2017. It has two divisions, a North America focussed Bulk Ingredients business making bulk sweeteners and industrial starches, and a global Speciality Food Ingredients division. This Speciality division makes ingredients used by many of the world’s largest food companies to take out sugar, calories and fat from food and drink, and also add in healthier ingredients such as fibre and protein. For example, Tate & Lyle adds fibre to products like nutrition bars and ice cream, and reduces sugar in products like yogurts, beverages and breakfast cereal.
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