REG - Tate & Lyle PLC - Directorate Change

Tate & LyleAnnouncement

08/11/2023 07:00

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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 £1.75 billion. For more
information, please visit https://www.tateandlyle.com
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