TIDMTATE
RNS Number : 7057S
Tate & Lyle PLC
08 November 2023
Directorate Change
Tate & Lyle PLC (Tate & Lyle) is pleased to announce the
appointment of David Hearn as a Director and Chair of the Board of
Tate & Lyle from 1 January 2024. On appointment, he will also
become Chair of the Nominations Committee.
David Hearn is a highly experienced Chair both of listed
companies and privately owned businesses. He currently serves as
Chair of Safestore Holdings plc and is also Chair of The a2 Milk
Company, a company listed on the New Zealand and Australian Stock
Exchanges, a position he will step down from on 16 November 2023.
He is a non-executive director of Lovat Partners Ltd.
In a career spanning more than 40 years, David has held senior
roles in a number of global businesses, including in the food and
beverage industry with Del Monte, PepsiCo and United Biscuits.
David served as Chief Executive Officer (CEO) of Goodman Fielder, a
listed Australian food business, from 1995 to 2001 and also as CEO
of Cordiant Group plc in the US from 2001 to 2003. In 2005, he was
appointed CEO of Committed Capital, an international private equity
and advisory firm based in London and Sydney, for whom he acted as
Chair of a wide range of portfolio businesses over a twelve-year
period.
David Hearn will succeed Warren Tucker who has been Interim
Chair since 1 September 2023. Warren will continue to serve as a
Non-Executive Director and Chair of the Audit Committee after he
steps down as Interim Chair.
Paul Forman, Senior Independent Director, who led the search for
the new Chair, will retire from the Board on 31 December 2023 and,
as previously announced, Kim Nelson will take up the position of
Senior Independent Director of Tate & Lyle from 1 January
2024.
Commenting on David's appointment, Warren Tucker, Interim Chair,
said:
"The Board is delighted that David Hearn will be joining Tate
& Lyle as Chair in January. David's breadth of experience,
skills and knowledge, particularly of the food industry, will
complement and further strengthen Tate & Lyle's Board. I look
forward to working closely with him to ensure a smooth handover
during the coming weeks."
David Hearn said:
"I am delighted to take on the role of Chair of Tate & Lyle
at what is an exciting time for the business. Tate & Lyle is a
business with a deep sense of purpose, in a strong financial
position, which puts its customers at the heart of everything it
does. I look forward to working with the Board, Nick Hampton and
the leadership team to deliver on the Company's growth agenda."
Nick Hampton, Chief Executive, said:
"We look forward to welcoming David to Tate & Lyle and to
working with him to deliver on our strategy to create solutions
that meet growing consumer demand for healthier, tastier and more
sustainable food and drink. On behalf of the Board, I would like to
thank Warren Tucker for his diligent leadership of the Board during
this interim period, and also to thank Paul Forman for his
leadership of the Chair succession process, his service as the
Senior Independent Director, and for his significant contribution
to the Tate & Lyle Board over the last nine years."
There are no further details to be disclosed pursuant to Listing
Rule 9.6.13 in connection with Mr Hearn's appointment. Biographical
details for Mr Hearn are set out below.
For more information contact Tate & Lyle PLC:
Christopher Marsh, VP Investor Relations
Tel: Mobile: +44 (0) 7796 192 688
Nick Hasell, FTI Consulting (Media)
Tel: Mobile: +44 (0) 7825 523 383
About Mr David Hearn
David Hearn is the Chair of Safestore Holdings plc and a
non-executive director of Lovat Partners Ltd.
David became a non-executive director and deputy Chair of The a2
Milk Company in 2014 becoming the Chair in 2018. David will serve
as the Chair of The a2 Milk Company, a company listed on the New
Zealand Stock Exchange and dual listed on the Australian Stock
Exchange, until 16 November 2023 when he will step down from the
board.
Between 2005 and 2018, David held non-executive directorships on
the boards of LifeCare Residences Ltd, Committed Capital PE, and
Comqi Holdings Ltd, and he was Chair of Hammonds LLP.
David started his career in 1977 with Procter & Gamble
before joining the food industry in 1984 as the CEO for Del Monte's
business in the UK and Ireland. After the business was acquired by
Nabisco, David was given responsibility for leading the Smiths
Crisps division which he did for three years until, in 1990,
Nabisco was acquired by PepsiCo. David was appointed into a
divisional VP role with responsibility for running the Snackfoods
division in Europe based in Barcelona. In 1992, David joined United
Biscuits as deputy CEO running the snacks business worldwide, which
included KP Snacks, Ross Youngs and McVitie's. After a successful
three years of acquisitions and growth, David accepted the role of
CEO of Goodman Fielder, the listed Australian business and he
relocated to Sydney in 1995. In 2001, David moved to the US to
become the CEO of Cordiant Group plc, based in New York. When that
business was acquired by WPP in 2003/2004 David returned to Europe.
In 2005, David was appointed CEO of Committed Capital, an
international private equity and advisory firm with offices in
London and Sydney. Over the next twelve years, David operated as
Chair for a range of portfolio businesses, spanning travel,
technology, media, legal and B2B.
Mr Hearn received an MA in English Literature from Oxford
University.
About Tate & Lyle:
Supported by our 160-year history of ingredient innovation, we
partner with customers to provide consumers with healthier and
tastier choices when they eat and drink. We are proud that millions
of people around the world consume products containing our
ingredients every day.
Through our expertise in sweetening, fortification, and
mouthfeel, we develop ingredient solutions which reduce sugar,
calories, and fat, add fibre and protein, and provide texture and
stability in categories including beverage, dairy, bakery and
snacks, and soups, sauces, and dressings.
We have more than 3,600 employees working in 58 locations across
the world. Science, Solutions, Society is our brand promise and how
we will achieve our purpose of Transforming Lives Through the
Science of Food. By living our purpose we believe we can
successfully grow our business and have a positive impact on
society. We live our purpose in three ways, by supporting healthy
living, building thriving communities and caring for our
planet.
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 2023, Tate & Lyle revenue totalled GBP1.75
billion. For more information, please visit
https://www.tateandlyle.com or follow Tate & Lyle on Twitter ,
Linkedin , Facebook or YouTube .
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