New CEO for Tate & Lyle

By Niamh Michail contact

- Last updated on GMT

© GettyImages/Jirsak
© GettyImages/Jirsak
Nick Hampton, the company’s current chief financial officer, will take over as CEO of ingredient supplier Tate & Lyle in April.

Prior to joining Tate & Lyle, Hampton worked at PepsiCo for 20 years where he finished as president for West Europe and senior vice president commercial Europe since 2013. 

His new position will earn him £665,000 (€748,347) annually, plus bonuses.

The outgoing CEO Javed Ahmed held the top position at the London-headquartered company since 2009. Ahmed will step down from the board and retire from the firm.

Chairman of Tate & Lyle Gerry Murphy said Hampton had a strong track record of driving performance, building teams and capabilities and focusing on key customers and markets. 

We are confident he has the experience, energy and vision to lead Tate & Lyle through the next phase of its development,” ​Murphy added.

Murphy also praised Ahmed for “exceptional leadership​” during his eight years at the helm.

“During his tenure, Tate & Lyle has been through a very significant strategic, operational and organisational transformation from a largely commodity business into the high quality global food ingredients business it is today.”

Tate & Lyle reported sales of £2.8bn (€3.2bn) for the financial year ending 31 March 2017 - a 17% increase in total sales.

It also saw its pre-tax profit almost double, going from £126m (€144m) to £233m (€267m) in the 12-month trading period. Ahmed put this impressive 85% increase in profit before tax down to higher sales, a weak pound following the Brexit vote and fewer exceptional costs.

The company is now recruiting for a new chief financial officer to replace Hampton.

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