- Push-out Score suggests push-out forces
- After almost nine years in the position
- Accolades, praise, thanks and good wishes for Ahmed
- Nick Hampton taking over
- Ahmed said 61 words
(exechange) — London, United Kingdom, January 16, 2018 — Javed Ahmed, chief executive of Tate & Lyle, leaves. As announced by Tate & Lyle plc in a news release on Tuesday, January 16, 2018, Javed Ahmed leaves his post as Chief Executive Officer at the ingredients maker after almost nine years in the position, effective April 1, 2018.
Ahmed’s move comes ten months after Gerry Murphy took over as Chairman of Tate & Lyle plc.
Ahmed’s duties will be taken over by Nick Hampton, currently Chief Financial Officer at Tate & Lyle plc.
The process to appoint a new Chief Financial Officer of Tate & Lyle is underway, “and a further announcement will be made in due course,” Tate & Lyle said.
No reason given
In the announcement, Tate & Lyle did not explicitly explain the reason for Ahmed’s move, leaving room for speculation.
Precise information about Ahmed’s future plans was not immediately available.
Tate & Lyle said: “Nick Hampton succeeds Javed Ahmed who, having served as Chief Executive of Tate & Lyle since October 2009, will step down from this role and from the Board, and retire from the Company, with effect from 1 April 2018.”
Share price decline
The change follows a decline in the share price of Tate & Lyle plc since May 2013.
Chaired by Gerry Murphy
Tate & Lyle plc is chaired by Gerry Murphy.
Murphy joined the Board as an independent non-executive director and Chairman-designate in January 2017. He was appointed Chairman in April 2017. Murphy is Chairman of The Blackstone Group’s principal European entity, having joined the firm in 2008 as a Senior Managing Director in its Private Equity group.
In the position of CEO since 2009
Javed Ahmed has been the Chief Executive Officer of Tate & Lyle PLC since October 1, 2009.
Ahmed joined the Board as Chief Executive in October 2009.
Ahmed has extensive international experience from a wide variety of senior commercial and management roles.
He started his career with Procter & Gamble and then spent five years with Bain & Co. before joining Benckiser (later Reckitt Benckiser plc) in 1992 where he gained significant experience of international consumer goods markets and held positions including Senior Vice President, Northern Europe; President, North America; Executive Vice President, North America, Australia and New Zealand; and Executive Vice President, Europe.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Javed Ahmed’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.
Read the full story in the exechange report 4.2018 ($).