- After almost nine years on the job
- Accolades, praise and thanks for Gordon
- Gordon spoke at length and said 238 words
(exechange) — Westchester, Illinois, September 18, 2017 — Ilene Gordon, chief executive of Ingredion, hands over the reins. As announced by Ingredion Incorporated in a news release on Monday, September 18, 2017, Ilene S. Gordon leaves the post as Chief Executive Officer at the food company after almost nine years on the job, effective December 31, 2017.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past twelve months was 8.8 years, according to data compiled by exechange.
Gordon leaves the company effective in July 2018.
Gordon’s duties are taken over by Jim Zallie, currently executive vice president global specialties and president, Americas at Ingredion Incorporated.
“The board and I are confident that he is absolutely the right choice to lead the company going forward”
The management change is explained as follows. Gordon said: “Over the years the board and I have focused on attracting and retaining top-tier talent and succession planning. After working with Jim for more than seven years, the board and I are confident that he is absolutely the right choice to lead the company going forward.”
Share price rise since February 2009
The change follows a rise in the share price of Ingredion Incorporated since February 2009.
On the job as CEO since 2009
Ilene Gordon, current CEO, president and chairman, will serve as the Company’s executive chairman of the board, a position she will hold until her retirement in July 2018.
Gordon has been Chairman of the Board, President and Chief Executive Officer of the company since May 4, 2009.
She was President and Chief Executive Officer of Rio Tinto’s Alcan Packaging, a multinational business unit engaged in flexible and specialty packaging, from October 2007 until she joined the company on May 4, 2009.
From December 2006 to October 2007, Gordon was a Senior Vice President of Alcan Inc. and President and Chief Executive Officer of Alcan Packaging.
Alcan Packaging was acquired by Rio Tinto in October 2007.
From 2004 until December 2006, Gordon served as President of Alcan Food Packaging Americas, a division of Alcan Inc.
From 1999 until Alcan’s December 2003 acquisition of Pechiney Group, Gordon was a Senior Vice President of Pechiney Group and President of Pechiney Plastic Packaging, Inc., a global flexible packaging business.
Prior to joining Pechiney in June 1999, Gordon spent 17 years with Tenneco Inc., where she most recently served as Vice President and General Manager, heading up Tenneco’s folding carton business. Gordon also serves as a director of International Paper Company, a global paper and packaging company, and Lockheed Martin Corporation, a global security and aerospace company.
She served as a director of Arthur J. Gallagher & Co., an international insurance brokerage and risk management business, from 1999 to May 2013 and as a director of Essendant Inc., formerly United Stationers Inc., a wholesale distributor of business products and a provider of marketing and logistics services to resellers, from January 2000 to May 2009.
Gordon also serves as Chairman of The Economic Club of Chicago and as a director of Northwestern Memorial Hospital, The Executives’ Club of Chicago and World Business Chicago.
She is also a trustee of The MIT Corporation and a Vice Chair of The Conference Board.
Gordon holds a Bachelor’s degree in mathematics from the Massachusetts Institute of Technology (MIT) and a Master’s degree in management from MIT’s Sloan School of Management.
Read the full story in the exechange report 39.2017 ($).