A FOOD AND BEVERAGE finance expert is to join Tate & Lyle as CFO.
Nick Hampton, who has had a 20-year career at PepsiCo, will take over from Tim Lodge in September. CIMA-qualified Lodge joined the sugar group in 1988, and 20 years later took on board responsibility as group FD, with his job title changing to CFO in 2010.
Chief executive Javed Ahmed welcomed Hampton’s relevant experience, with PepsiCo being an important customer to Tate & Lyle.
“He brings with him a wealth of experience in the food and beverage industry and his strong expertise and knowledge will be highly complementary to our team,” said Ahmed. “I very much look forward to working with him as we continue to execute our strategy.”
Lodge will hold a transitional role alongside Hampton, before leaving for another, as yet unknown, role.
“Tim has been a great support to the board, to me personally and to the executive team, and has led key aspects of the transformation of Tate & Lyle with distinction. After six years in the role, Tim indicated to the Board that he was ready for a new challenge,” Ahmed added.
Jefferies analyst Martin Deboo said Hampton should provide “best-in-class” commercial and financial nous, and “highly relevant” customer insight, reported Reuters.
Tate & Lyle’s share price climbed 3.5p to 685p in this morning’s trading, valuing the company at £3.2bn by market cap.
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