Tate & Lyle Announces Board Changes.Business Editors LONDON--(BUSINESS WIRE)--March 24, 2003 Tate & Lyle PLC ("Tate & Lyle"), a world leader in carbohydrate ingredients, announces today the appointment of Iain Ferguson Iain Ferguson (born 4 August 1962, in Newarthill, North Lanarkshire) is a Scottish former professional footballer who played as a striker for numerous Scottish clubs during the 1980s and 90s. as Chief Executive. He will take up his new role, and his position on the Board of Tate & Lyle, on 1 May 2003. Simon Gifford, currently Acting Chief Executive and Group Finance Director, will remain in that role until 1 May 2003 and will continue as Group Finance Director thereafter. Iain Ferguson, 47, is currently Senior Vice President, Corporate Development of Unilever PLC and NV, prior to which he was Executive Chairman of Birds Eye
Stanley Musesengwa, 50, currently Chief Executive Officer of the Tate & Lyle Europe Division, will join the Board on 2 April 2003. He will take up the new position of Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , reporting to the Chief Executive, on 1 May 2003. John Walker will retire from the Board on 2 April 2003 after 10 years as a director. John joined the Company in 1966. He will continue to assist Tate & Lyle's European sugar businesses until August 2004. Sir David Lees, Chairman of Tate & Lyle, said "we are delighted that Iain Ferguson will be joining us. His years of experience with a first class international company, his knowledge of the global food industry and his background in science and technology make him an ideal person to lead Tate & Lyle through the next phase of its development. I am particularly pleased that he will be supported in this by Simon Gifford as Group Finance Director, and Stanley Musesengwa as Chief Operating Officer and I congratulate Stanley on his new appointment. I also thank John Walker for his many years of loyal service to Tate & Lyle. "This is a good day for Tate & Lyle. I am confident that, with these appointments in place and after the restructuring we have carried out over the last few years, we are well placed to grow our business. I very much look forward to working with the new team." Mr. Iain Ferguson said "I am delighted to have been offered the opportunity to lead Tate & Lyle. I have long held a strong respect for the Company and its employees. I look forward to working with Sir David and the management team to continue the drive for efficiency and growth." Trading Statement In accordance with Tate & Lyle's practice at the end of its financial year, a routine trading statement will be issued on 27th March 2003. About Tate & Lyle Tate & Lyle is a world leader in carbohydrate ingredients. Our core competence Core competence Primary area of expertise. Narrowly defined fields or tasks at which a company or business excels. Primary areas of specialty. is to take basic carbohydrates - corn, wheat or sugar - and add value to these raw materials through technology. As a result of continuous innovation we offer an ever-wider product portfolio of versatile and functional ingredients. These products include Cereal Sweeteners, Starches, Sugars and Citric Acid citric acid or 2-hydroxy-1,2,3-propanetricarboxylic acid, HO2CCH2C(OH)(CO2H)CH2CO2 . Our products have wide applications in the food, beverage, pharmaceutical, cosmetic, paper, packaging and building industries. With headquarters in London, the Group has 8,500 employees and 50 plants in 24 countries. Sales in the 53 weeks to 31 March 2002 totalled GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 3.9 billion. Attachment: Biographies of Iain Ferguson & Stanley Musesengwa BIOGRAPHIES Iain Ferguson Tate & Lyle PLC, Chief Executive (from 1 May 2003) Iain Ferguson graduated from St Andrews Coordinates: St Andrews (Scottish Gaelic: Cill Rìmhinn) is a city and former royal burgh on the east coast of Fife, Scotland. It is named after Saint Andrew the Apostle. University with Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies in Chemistry and Psychology, joining the Anglo-Dutch consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and business Unilever in 1977. His early career included roles in operations, sales and industrial marketing. After three years as Technical Director of BOCM BOCM British Oil and Cake Mills Silcock, he became Executive Chairman of Plant Breeding plant breeding, science of altering the genetic pattern of plants in order to increase their value. Increased crop yield is the primary aim of most plant-breeding programs; advantages of the hybrids and new varieties developed include adaptation to new agricultural International in 1988. In 1992 his role expanded to include Executive Chairmanship of the Unilever Plantation Group. He was made Executive Chairman of Birds Eye Walls in 1995, responsible for some of the country's best known brands and a company with a turnover of GBP1 billion. Since April 2001, Ferguson has been Senior Vice-President, Corporate Development Unilever PLC/NV, responsible for the corporate strategy and new business development throughout Unilever. Ferguson is active in a number of key industry groups, including the Institute of Grocery Distribution (where he is a Fellow and has recently become President), the Food & Drink Federation (Vice President), and the British Nutrition Foundation (Non-executive Director). He has served on a number of UK public/governmental bodies, including the Health & Safety Commission quinquennial quin·quen·ni·al adj. 1. Happening once every five years. 2. Lasting for five years. n. 1. A fifth anniversary. 2. A period of five years. review, the Department of Trade and Industry The Department of Trade and Industry was a United Kingdom government department which was disbanded with the announcement of the creation of the Department for Business, Enterprise and Regulatory Reform on 28 June 2007[1]. Foresight Panel and the Board of Companies House (89-96). Most recently he served as a Commissioner on the Policy Commission on the Future of Farming and Food. He is a Director of the Rothamsted Research Station (part of the largest land-based institute in the UK and the oldest in the world) and a Non-Executive Director of Sygen International plc. Ferguson is 47 years old, married with one child. A British citizen, Ferguson is a member of both the Farmers' Club and the Caledonian Club. Stanley Musesengwa Tate & Lyle PLC, Chief Operating Officer (from 1 May 2003) Aged 50, Stanley Musesengwa joined the Tate & Lyle Group in 1979 as Refinery Manager for the ZSR ZSR Zeleznice Slovenskej Republiky (railway of Slovakia) ZSR Zimbabwe Sugar Refineries ZSR Zeta Sedimentation Ratio ZSR Zero State Response Corporation in Zimbabwe. He subsequently became ZSR's Commercial Director and Managing Director, as well as overseeing the establishment of wholesale food and distribution centres in the region. In 1995 he became Regional Director, Tate & Lyle Africa, responsible for the Group's African manufacturing operations, investment portfolio, and a sales & distribution operation in Southern and Central Africa. In December 1999 he was appointed Chief Executive Officer of the newly formed Tate & Lyle Europe incorporating the Group's British and Portuguese sugar refining businesses, global sugar/molasses trading activities and bulk liquid storage division with operations in Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. . Prior to joining Tate & Lyle Musesengwa worked for Nestle for five years, which included two and a half years service in the USA. Musesengwa is Zimbabwean and married with one son. |
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