Tate & Lyle gains listing among top 1,000 trusted global businesses
The Tate & Lyle division in UAE reported a strong performance at Gulfood Manufacturing. Regional vice president, Hussam Yacoub speaks to Confectionery Production at last year's event. Pic: Neill Barston
Global ingredient solutions group Tate & Lyle PLC is celebrating being named among the most trusted international businesses, according to an new ranking from Newsweek magazine and Statista, writes Neill Barston.
As the business explained, the inaugural ranking rated the top 1,000 companies around the world, with the food supply firm being named in the top half of enterprises within the sector around the world.
Confectionery Production was on hand at this year’s Gulfood Manufacturing to speak to the business (see our exclusive video from the event here, including an interview with the company), in which the business revealed that the snacks and wider confectionery segment were areas of core interest for its activities in terms of future product development.
As for its latest accolade, the results of the ranking award had reportedly been based on results from a survey of 70,000 participants in 21 countries, and an online and social media assessment including 269,000 evaluations of companies across 23 industries on the subject of trust, from how they service their customers, to how they are viewed by investors, to their treatment of employees.
Survey participants evaluated companies on statements such as, “I trust in this company to treat me fairly as its customer,” “I trust that this company is competently led” and “I believe this company treats its employees fairly.”
Nick Hampton, Chief Executive at Tate & Lyle PLC, said:“We are delighted to be recognised as one of the most trustworthy companies globally and within our industry. In an uncertain world, trust is a precious commodity, perhaps nowhere more so than in the industry responsible for providing safe, affordable and nutritious food to billions of people worldwide.
“Alongside stronger ESG3 rankings, this recognition comes at a time of increasingly positive customer perception of Tate & Lyle as shown by a recent customer survey that scored us highly for ingredient innovation and sustainability, as well as for loyalty, satisfaction and enthusiasm. This progress reflects the integrity, professionalism and dedication of colleagues across Tate & Lyle who live our purpose of Transforming Lives through the Science of Food every day.”
Chairman appointed
In another major development this month, the company has installed David Hearn (above) as a Director and Chair of the Board of Tate & Lyle, who will be taking up the position at the start of 2024.
He has considerable experience in senior management, both of listed companies and privately owned businesses, and presently serves as chair of Safestore Holdings plc and until last week was chairman of The a2 Milk Company, a company listed on the New Zealand and Australian Stock Exchanges. He is a non-executive director of Lovat Partners Ltd.
In a career spanning more than 40 years, David has held senior roles in a number of global businesses, including in the food and beverage industry with Del Monte, PepsiCo and United Biscuits. David served as Chief Executive Officer (CEO) of Goodman Fielder, a listed Australian food business, from 1995 to 2001 and also as CEO of Cordiant Group plc in the US from 2001 to 2003. In 2005, he was appointed CEO of Committed Capital, an international private equity and advisory firm based in London and Sydney, for whom he acted as Chair of a wide range of portfolio businesses over a twelve-year period.
David Hearn will succeed Warren Tucker who has been Interim Chair since 1 September 2023. Warren will continue to serve as a Non-Executive Director and Chair of the Audit Committee after he steps down as Interim Chair.
Paul Forman, Senior Independent Director, who led the search for the new Chair, will retire from the Board on 31 December 2023 and, as previously announced, Kim Nelson will take up the position of Senior Independent Director of Tate & Lyle from 1 January 2024.
Commenting on David’s appointment, Warren Tucker, Interim Chair, said: “The Board is delighted that David Hearn will be joining Tate & Lyle as Chair in January. David’s breadth of experience, skills and knowledge, particularly of the food industry, will complement and further strengthen Tate & Lyle’s Board. I look forward to working closely with him to ensure a smooth handover during the coming weeks.”
David Hearn said: “I am delighted to take on the role of Chair of Tate & Lyle at what is an exciting time for the business. Tate & Lyle is a business with a deep sense of purpose, in a strong financial position, which puts its customers at the heart of everything it does. I look forward to working with the Board, Nick Hampton and the leadership team to deliver on the Company’s growth agenda.”
