REG - Treatt PLC - CEO Succession

TreattAnnouncement

20/10/2023 07:00

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RNS Number : 7350Q  Treatt PLC  20 October 2023

 

20 October 2023

TREATT PLC

("Treatt", the "Company" or "the Group")

CEO Succession

Treatt, the manufacturer and supplier of a diverse and sustainable portfolio
of natural extracts and ingredients for the beverage, flavour and fragrance
industries, announces that Daemmon Reeve has informed the Board of his
intention to retire from his role as Chief Executive Officer ("CEO") and as a
director of the Company.

Daemmon's retirement comes after 32 years with Treatt, the last 11 years as
CEO.  He has agreed with the Board that he will step down from his role on 31
December 2023 and will step down immediately from Treatt's Nomination
Committee.

The Board regularly reviews succession planning and has begun the process to
appoint a new CEO.

Until a new CEO is appointed, Ryan Govender, the Company's Chief Financial
Officer, will be appointed as Interim CEO from 1 January 2024. Building on his
international and diverse experience from his previous roles, most recently
within Associated British Foods, Ryan has a strong understanding of the
business and has played a key role as part of the Treatt team in formulating
an ambitious strategy for the future of the business.

Vijay Thakrar, Chairman of Treatt, commented:

"Daemmon has had a long and distinguished career at Treatt, overseeing a
significant change in the Company's fortunes under his leadership. With the
move into our new facility in Skyliner Way completed, the expansion in recent
years of our US site and the recent establishment of our China subsidiary, the
business is well positioned for growth and to capitalise on its strong market
position. On behalf of the Board I would like to thank Daemmon for his
contribution and to wish him the very best in retirement. We are very pleased
to have someone of Ryan's calibre to assume the role of Interim CEO whilst we
undertake a thorough search for Daemmon's replacement."

Daemmon Reeve, Chief Executive Officer of Treatt, commented:

"Treatt has been my life for the past 32 years and it has been a privilege to
work with such a fantastic group of people in our great business.  The time
is now right for me to step aside for someone else to lead the next phase of
the Company's growth. I'd like to thank all of my colleagues for the wonderful
support that they have given to me and the business over the years, and look
forward to seeing the business scale further heights."

 

For further information please contact:

Treatt plc
 
+44 (0) 1284 702 500

Vijay Thakrar, Chairman

Daemmon Reeve, Chief Executive Officer

Ryan Govender, Chief Financial Officer

 

Investec Bank Plc
 
+44 (0) 20 7597 5970

Patrick Robb/ David Anderson

Peel Hunt LLP
 
+44 (0) 20 7418 8900

George Sellar/ Michael Burke

MHP

Tim Rowntree/ Eleni Menikou
 
    +44 (0) 20 3128 8100

 
 
 treatt@mhpgroup.com (mailto:treatt@mhpgroup.com)

About the Group

Treatt is a global, independent manufacturer and supplier of a diverse and
sustainable portfolio of natural extracts and ingredients for the flavour,
fragrance and multinational consumer product industries, particularly in the
beverage sector. Renowned for its technical expertise and knowledge of
ingredients, their origins and market conditions, Treatt is recognised as a
leader in its field. The Group employs approximately 400 staff in Europe,
North America and Asia and has manufacturing facilities in the UK and US. Its
international footprint enables the Group to deliver powerful and integrated
solutions for the food, beverage and fragrance industries across the globe.
For further information about the Group, visit www.treatt.com.

 

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