REG - Glanbia PLC - Glanbia announces CEO appointment

GlanbiaAnnouncement

16/08/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230816:nRSP4275Ja&default-theme=true

RNS Number : 4275J  Glanbia PLC  16 August 2023

Glanbia announces CEO appointment

16 August 2023. The Glanbia plc board (the "Board") announces that Siobhán
Talbot has notified it of her intention to retire from Glanbia plc ("Glanbia",
the "Company" or "Group") following ten successful years as Group Managing
Director of the Company. Siobhán will step down from her position and from
the Glanbia Board on 31 December 2023 and will retire from the Group in
January 2024. Hugh McGuire, currently Chief Executive Officer ("CEO") of
Glanbia Performance Nutrition ("GPN"), will be appointed CEO of Glanbia plc
and join the Glanbia Board as an Executive Director effective 1 January
2024.

Donard Gaynor, Chairman of Glanbia plc said: "On behalf of the Board I would
like to express our deep gratitude to Siobhán for her leadership and
contribution to Glanbia over the past ten years as Group Managing Director.
A deeply principled and values driven leader, Siobhán has provided
outstanding strategic direction to Glanbia, reshaping the business and its
culture to become a clear leader in the world of better nutrition. She led the
creation of a focused business which is aligned to growing consumer trends
with clear purpose and values, a strong balance sheet and continued ambition
for growth which are all key parts of her distinguished legacy.

The CEO appointment was the conclusion of an extensive selection process led
by the Board's Nomination and Governance Committee with the support of an
executive search firm. Following this process, the Board is delighted to
appoint Hugh McGuire as CEO of Glanbia effective 1 January 2024. Hugh has led
the growth and evolution of GPN with unrelenting focus to become a global
leader and a key earnings generator. He combines a passion for our business
and our served markets with entrepreneurial flair and a growth mind-set. I
have known Hugh since I have joined the Board and I know he is committed to
Glanbia's success and is the ideal leader to take us through to the next phase
of our growth and evolution."

Siobhán Talbot, Group Managing Director, Glanbia plc added: "It has been my
great privilege to lead Glanbia over the past ten years. I am very proud of
how the organisation has evolved, grown and strengthened over this period. It
is well positioned for the next phase of growth with great people, culture and
capabilities. I want to thank my leadership team and all my colleagues right
across the Group for their hard work and commitment to Glanbia and their
personal friendship.

I would like to wish Hugh well as he takes the helm in 2024 and I look forward
to working with him on the leadership transition over the coming months. I
know how passionate and committed to Glanbia he is and I have no doubt he will
drive the Group forward in pursuit of its strategic focus on better
nutrition."

Hugh McGuire, CEO of Glanbia Performance Nutrition added: "I am honoured and
delighted to have been appointed as the next CEO of Glanbia, an organisation I
have been proud to serve over the last 20 years. It is a business and a sector
that is closely aligned to my own passions and values and I've been privileged
to be part of its transformation journey. Siobhán leaves Glanbia in a very
strong position for future growth and I'd like to sincerely thank her for all
her support over the years.

My focus will be to build upon these strong foundations for the benefit of all
stakeholders in the years to come. Glanbia has great nutritional ingredients,
brands and businesses, serving exciting categories in health and wellness that
truly support our consumers and customers to reach their nutritional goals. In
addition we have really talented people and a strong values led culture. I
look forward to working with my colleagues globally to capture the growth
opportunities ahead, to sustainably create shareholder value and achieve our
full potential as a better nutrition business."

Background

Siobhán Talbot joined the Group in 1992 and held a number of senior
positions, including Group Finance Director, prior to her appointment as Group
Managing Director in 2013.

Under Siobhán's leadership, Glanbia has been transformed into a focused
global better nutrition business, serving growing consumer nutrition trends
and societal needs. The Group's business model has been reshaped towards
growing and higher margin consumer branded and ingredient nutrition markets
worldwide. Today, Glanbia Performance Nutrition is the world's leading sports
nutrition business including the Optimum Nutrition brand. Glanbia Nutritionals
has evolved its global capabilities and scale in nutritional solutions with
strong global positions in particular in proteins and customised premix
solutions for the food and beverage industry. Under Siobhán's leadership,
Glanbia has strengthened its organisational resilience with a strong purpose
and values driven culture, a strong financial position and sustained returns
to shareholders.

Hugh McGuire joined Glanbia in 2003 and held a range of senior leadership
roles across the Group, residing in the US for nine years, during his career
with the Company. He initially worked in the ingredients division culminating
in his role as CEO of Glanbia Customised Solutions where he led the
development of the global vitamin and mineral premix business through a number
of organic development and M&A projects in the US, Europe and Asia. In
2008 he was appointed CEO of Glanbia's Performance Nutrition business ("GPN").
During his tenure, GPN has grown organically and through M&A from annual
revenues of $185 million to $1.7 billion in 2022 and has become the world's
number one sports nutrition business. In this period the flagship Optimum
Nutrition brand has grown revenues by 16% annually to become Glanbia's first
$1 billion brand earlier this year.

Hugh has been a member of the Group's Operating Executive since 2013 and
served on the Board from 1 June 2013 until April 2019. Prior to joining
Glanbia, Hugh worked for McKinsey & Company as a consultant across a range
of industry sectors and prior to this in marketing and commercial roles with
Nestle and Leaf. He holds an M.Sc. in Food Science from University College
Dublin and has a Diploma in Accounting and Finance from the Association of
Chartered Certified Accountants Ireland.

On his appointment to the Board, Hugh will also be appointed to the Corporate
Development Board Committee of the Company.

This announcement is made in accordance with Rule 6.1.64 of Euronext Dublin
Listing Rules and Rule 9.6.11 of the London Stock Exchange Listing Rules. The
Company confirms that there are no other matters requiring disclosure under
Rule 6.1.66 of Euronext Dublin Listing Rules and Rule 9.6.13 of the London
Stock Exchange Listing Rules.

Inside Information

This announcement contains inside information. The person responsible for
arranging for the release of this announcement on behalf of Glanbia plc is
Liam Hennigan, Group Secretary and Head of Investor Relations. The time and
date of this announcement is, at 7am BST, 16 August 2023.

ENDS

For further information contact

Glanbia plc
 
                                +353 (0)56 777 2200

Liam Hennigan, Group Secretary & Head of Investor Relations:
                            +353 (0)86 046 8375

Donal O'Keeffe, Investor Relations Director:
 
   +353 (0)86 047 2974

Martha Kavanagh, Director of Corporate
Affairs:
                +353 (0)87 646 2006

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAKELFFXVLEBBD