– UK, London – Tate & Lyle PLC (LSE:TATE), announces the appointment of Dr Gerry Murphy as a non-executive director and Chairman-designate of the Company. He will join the Board on 1 January 2017 and will succeed Sir Peter Gershon as Chairman of the Company on 1 April 2017 following Sir Peter’s retirement as a Director on 31 March 2017.
Dr Murphy is Chairman of The Blackstone Group’s principal European entity. His early career was in the food and drinks sector, primarily with Grand Metropolitan plc (now Diageo plc) and Greencore Group plc, where he was CEO, before becoming CEO of Exel plc, Carlton Communications plc and most recently Kingfisher plc (2003 to 2008). He is a non-executive Director of British American Tobacco plc and Intertrust NV and has held non-executive directorships in a number of London-listed companies including Merlin Entertainments plc from 2013 to 2015. Further biographical details are attached.
Sir Peter Gershon said “I am delighted to welcome Gerry to the Board of Tate & Lyle and very much look forward to working closely with him during the first quarter of calendar 2017 as we transition the Chairmanship. Gerry’s extensive experience in the food industry and as chief executive, investor and independent director in leading international companies equips him well to guide Tate & Lyle in the years ahead.”
Gerry Murphy said “I am honoured to succeed Sir Peter as Chairman of Tate & Lyle and I am very excited about working with Javed Ahmed, the Board and the leadership team to help deliver the Company’s growth agenda. Having started my career in the food industry, joining Tate & Lyle feels like coming home.”
Upon Dr Murphy’s appointment as a non-executive director, he will join the Corporate Responsibility and Nominations Committees and will assume chairmanship of the Nominations Committee with effect from 1 April 2017.
It is further announced that, having led the Chairman succession process, Liz Airey has informed the Board that she intends to step down as Senior Independent Director on 31 December 2016 and will retire from the Board at the Annual General Meeting in July 2017. Douglas Hurt will assume the role of Senior Independent Director, in addition to his role as Chairman of the Audit Committee, with effect from 1 January 2017.
Sir Peter Gershon, said “I would like to thank Liz for her ten years of outstanding service and significant contribution to the Board and, in particular, for her time served as Chairman of the Audit Committee and as Senior Independent Director.”
About Dr Gerry Murphy
Gerry Murphy, aged 61, has been a Senior Managing Director in Blackstone’s Private Equity group and Chairman of its principal European entity since 2008. He is also Chairman of Invest Europe, the Brussels-based industry association representing Europe’s private equity, venture capital and infrastructure firms and their investors.
Before joining Blackstone in 2008, Gerry Murphy was CEO of Kingfisher plc (2003 to 2008) and previously CEO of Carlton Communications plc (2000 to 2003), Exel plc (1995 to 2000) and Greencore plc (1991 to 1995).
Earlier in his career, he held senior operating and corporate positions with Grand Metropolitan plc (now Diageo plc) in Ireland, the UK and the USA.
He is a non-executive director of British American Tobacco plc and Intertrust NV and has previously served on the boards of Merlin Entertainments plc, Reckitt Benckiser plc, Abbey National plc and Novar plc.
Dr. Murphy was educated in Ireland and received his PhD in food technology from University College Cork and MBS in marketing from University College Dublin.
About Tate & Lyle:
Tate & Lyle is a global provider of ingredients and solutions to the food, beverage and other industries, with operations at more than 25 facilities worldwide.
Tate & Lyle operates through two global divisions, Speciality Food Ingredients and Bulk Ingredients, supported by our Innovation and Commercial Development and Global Operations groups. The Group’s strategy is to become a leading global provider of Speciality Food Ingredients through a disciplined focus on growth, and by driving Bulk Ingredients for sustained cash generation to fuel this growth.
Speciality Food Ingredients consists of three platforms: Texturants, which includes speciality starches and stabilisers; Sweeteners, which comprises nutritive sweeteners and our range of no-calorie sweeteners including SPLENDA® Sucralose; and our Health and Wellness portfolio which includes speciality fibres and our salt-reduction offering. Additionally, our Food Systems business provides a wide variety of blended ingredient solutions.
Tate & Lyle Bulk Ingredients includes bulk sweeteners, industrial starches and fermentation products (primarily acidulants). Corn 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 2016, Tate & Lyle sales totalled £2.4 billion.
For more information : http://www.tateandlyle.com
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