Tate & Lyle has appointed ex-PepsiCo man Nick Hampton to the role of chief financial officer and to the board with effect from 1 September.
Hampton has been president West Europe and senior vice-president commercial Europe for PepsiCo since last year, following several senior finance and operational roles at the company for 20 years. He will replace Tim Lodge, who has held the position since 2008.
Industry analyst Jeffries expects Hampton to bring “energy and perspective” to Tate & Lyle’s ongoing development. “PepsiCo Europe is a $13bn (£8bn) sales business, more than twice the size of Tate,” said a spokesman.
“It is likely to be a major customer for Tate’s intense sweeteners portfolio and other products, so we would expect Hampton to bring best-in-class commercial and financial perspectives, honed in a major multinational, plus some highly relevant customer insight.
“The challenge for Hampton will be to make the transition from a branded goods, ‘B2C’ environment to Tate’s more commodity-influenced ‘B2B’ model and its various moving parts. With [Tate & Lyle] chief executive Javed Ahmed now close to five years into his role, a more focused business portfolio and investment in a global IS/IT platform now bearing fruit, we expect Hampton to be able to integrate more smoothly than might have been possible five years ago.”
Ahmed welcomed Hampton to the company: “He brings with him a wealth of experience in the food and beverage industry and his strong expertise and knowledge will be highly complementary to our team.”