Tate & Lyle PLC announces that Dawn Allen, Chief Financial Officer, has decided to leave the Company to take up the position of Chief Financial Officer of Haleon plc. Mrs Allen will remain with Tate & Lyle until October 2024 to close out our half-year results ending 30 September 2024, and to support an orderly transition.
The Board has begun a process to appoint a successor to Mrs Allen and a further announcement will be made in due course.
Nick Hampton, Chief Executive said: “During her time at Tate & Lyle, Dawn has played a key role in maintaining strong financial discipline across the business, and leaves behind a proven team that will continue to support the delivery of our growth-focused strategy. We wish her every success in the next stage of her career.”
David Hearn, Chair, said: “Dawn has been a valued member of the management team and on behalf of the Board I would like to thank her for her contribution to Tate & Lyle, and wish her all the best in her next role.”
Monster Beverage Corporation announced that Hilton H. Schlosberg was elected by the Board of Directors of the Company (the “Board”) as Co-Chief Executive Officer of the Company. Mr. Schlosberg will serve as Co-Chief Executive Officer together with Mr. Rodney C. Sacks, who has served as the Chief Executive Officer of the Company since 1990. Simultaneously with the foregoing, Mr. Schlosberg resigned his positions as President, Chief Financial Officer, Chief Operating Officer and Secretary of the Company. Mr. Sacks will continue as Chairman of the Board and Mr. Schlosberg will continue as Vice Chairman of the Board. In addition, the Company also announced that Thomas J. Kelly was elected by the Board as Chief Financial Officer of the Company, succeeding Mr. Schlosberg.
Mr. Schlosberg has held senior leadership positions with the Company for over 30 years, including as the Company’s Chief Financial Officer for over 23 years, and has served as a co-leader of the Company with Mr. Sacks. Mr. Kelly has been Executive Vice President, Finance, and/or Controller and Secretary of Monster Energy Company since 1992. Mr. Kelly is a Certified Public Accountant (inactive) and has worked in the beverage business for over 30 years.
Monster Beverage Corporation
Based in Corona, California, Monster Beverage Corporation is a holding company and conducts no operating business except through its consolidated subsidiaries. The Company’s subsidiaries develop and market energy drinks, including Monster Energy® energy drinks, Monster Energy Ultra® energy drinks, Monster MAXX® maximum strength energy drinks, Java Monster® non-carbonated coffee + energy drinks, Espresso Monster® non-carbonated espresso + energy drinks, Monster Rehab® non-carbonated tea + energy drinks, Muscle Monster® non-carbonated energy shakes, Monster Hydro® non-carbonated refreshment + energy drinks, Monster HydroSport Super Fuel® non-carbonated advanced hydration + energy drinks, Monster Dragon Tea® non-carbonated energy teas, Reign Total Body Fuel® high performance energy drinks, Reign Inferno® thermogenic fuel high performance energy drinks, NOS® energy drinks, Full Throttle® energy drinks, Burn® energy drinks, Samurai® energy drinks, Relentless® energy drinks, Mother® energy drinks, Play® and Power Play® (stylized) energy drinks, BU® energy drinks, Nalu® energy drinks, BPM® energy drinks, Gladiator® energy drinks, Ultra Energy® energy drinks, Live+® energy drinks, Predator® energy drinks and Fury® energy drinks.
Tate & Lyle PLC announces that John Cheung joined the Board as a non-executive director and a member of the Audit and Nominations Committees on 1 January 2021.
Currently an executive director of nutrition group China Feihe Limited, John brings a breadth of food and beverage experience with a deep understanding of markets in Asia, particularly in China. In a career spanning 30 years in the fields of nutrition, food and beverages, John has served as President for Wyeth Nutrition Global, having previously served as Nestlé Group’s leader in China and earlier held senior roles with Coca-Cola and Procter & Gamble.
After nearly nine years on the Board, the Company also announces that non-executive director, Dr Ajai Puri, will retire on 31st March 2021.
Aligned with the updated strategy, the changes will make resources available to investment in new growth opportunities, industries and markets.
Novozymes announced organizational changes to drive stronger growth and deliver on its updated corporate strategy, Better business with biology. The strategy, as announced on June 16, will drive higher sales and earnings growth over the three-year period 2020-2022, and beyond.
Changes will free up resources which will be made available for reinvestments where they have higher impact. This also means that 280 – 330 employees will be laid off globally, of which 123 are in Denmark. Layoffs will happen across divisions, functions and regions and in accordance with local processes and requirements. In addition, a number of employees will be transferred to new roles inside the company.
“Better business with biology allows us to drive more value from the existing business and free up additional resources to invest in new strategic opportunities. We will also invest more in commercial activities and innovation, especially in the emerging markets,” says Peder Holk Nielsen, CEO at Novozymes. “To achieve this, it regrettably means that we need to lay off employees across the organization.”
Focus and investments
Novozymes is the world leader in biological solutions and its financial performance is solid, but the business has faced headwinds.
Better business with biology sets the future strategic direction of the company. The outcome of the strategy has shown that DKK 200-300 million can be freed up from existing portfolios, from simplification and from efficiency improvements. This allows for significant reinvestments in the company and it supports Novozymes’ long-term growth potential.
“We will focus our R&D efforts on fewer projects with higher impact. At the same time, we explore new strategic opportunities where we continue to meet increasing customer needs and solve global challenges, such as clean water, human health and food availability,” says Peder Holk Nielsen.
“The changes we announce today are not easy and we will do our best to support colleagues who have been laid off,” Peder Holk Nielsen concludes.
As announced on June 16 in the strategy update, the restructuring and related charges are included in the full year financial outlook.
Tate & Lyle PLC announces that Kimberly (Kim) Nelson will join the Board as a non-executive director and a member of the Audit and Nominations Committees on 1 July 2019. Kim brings extensive experience and knowledge of the food and beverage industry to the Board having worked for General Mills Inc. for nearly 30 years. During her career at General Mills, she held a number of senior brand and general management roles before becoming Senior Vice President, External Relations in 2010. Kim retired from General Mills Inc. in 2018. She is a US citizen.
The following changes to the Board and Board Committees will take effect at the conclusion of the Company’s AGM on 25 July 2019:
Board
- Douglas Hurt will retire from the Board, having served as a non-executive director since March 2010, as the Chair of the Audit Committee since March 2015 and as Senior Independent Director since January 2017.
- Warren Tucker is appointed as Chair of the Audit Committee.
- Paul Forman is appointed as Senior Independent Director.
Board Committees
- Dr Ajai Puri will step down from the Remuneration Committee and join the Audit Committee.
- Sybella Stanley will step down from the Audit Committee and join the Remuneration Committee.
- Paul Forman will step down from the Remuneration Committee.
Dr Gerry Murphy, Chairman of Tate & Lyle, said: “I am delighted that Kim has agreed to join the Board. Her appointment recognises the importance of the US to Tate & Lyle, in terms of our customers, operations and employees. Her substantial experience in the food and beverage industry will be of significant benefit to the Board.”
“I would like to thank Douglas Hurt for his nine years of outstanding service and significant contribution to the Board and, in particular, for his time served as Chairman of the Audit Committee and as Senior Independent Director.”
There are no further disclosures to be made in connection with Ms Nelson’s appointment pursuant to paragraph 9.6.13 of the Financial Conduct Authority’s Listing Rules.
KHS in Dortmund, Germany, international manufacturer of lines and machines for applications in the beverage filling and packaging industry with over 5,000 employees, belongs to the Salzgitter Group’s high-growth technology business unit. As part of its Strategy 2021 program Salzgitter AG plans to further expand its technology business unit.
In order to follow KHS’ own growth strategy while simultaneously strengthening its inner performance KHS is implementing its company-wide KHS Future action plan. As part of the KHS realignment process Prof. E.h. Dr.-Ing. Johann Grabenweger, responsible for Sales and Service, is leaving the company by mutual consent. The Supervisory Board would like to thank Prof. Grabenweger for his 13 years of successful work in Production, Research and Development and, most recently, Sales and Service which has grown by about a third in the last few years.
Until a final decision has been reached regarding the appointment of a successor, Management Board responsibility for the Sales and Service Division shall be assumed by chairman of the KHS Executive Management Board Burkhard Becker.
