Home Product listing Olam Food Ingredients makes strategic additions to its board of directors

Olam Food Ingredients makes strategic additions to its board of directors

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A. Shekhar, CEO of Olam Food Ingredients, Welcomes Listing

The global ingredients specialist ofi has appointed three non-executive directors to its board, strengthening its overall management team, writes Neill Barston.

The activity, which delivered a series of solutions for the confectionery and snacks sector, continues to grow with new product launches.

Established in early 2020 following the announcement of the reorganization within Olam International Limited (“Olam”) to unlock and maximize its long-term value. ofi intends to seek a primary listing on the premium segment of the London Stock Exchange, and a concurrent secondary listing in Singapore in the first half of 2022.

Olam previously announced the appointment of Niall FitzGerald as Chairman of the Board. In addition to the chairman and non-executive directors above, the board has two executive directors, Managing Director A. Shekhar and Chief Financial Officer Rishi Kalra.

Belinda Richards will chair the Governance and Nominating Committee and will be the Independent Lead Director of the Board. Belinda was a senior partner at Deloitte LLP before embarking on her career on the board of directors which focuses particularly on the consumer products and financial services industries. Belinda is currently a non-executive director and chair of the audit committee of Avast plc and Schroder Japan Growth Fund plc, as well as a non-executive director of Phoenix Group Holdings plc and Monks Investment Trust plc. Belinda has previously served on the boards of directors of WM Morrison, Grainger and Balfour Beatty.

Brian May will chair the Board’s Audit and Risk Committee. Brian’s senior management career with Bunzl plc spanned 26 years, including 14 years as CFO, during which time the company underwent a significant strategic and operational transformation. Brian is a non-executive director and member of the audit committee of Ferguson plc, a non-executive director, chairman of the compensation committee and a member of the audit committee of ConvaTec Group plc, and he previously served on the board of directors of United Utilities Group PLC.

Penny Hughes will chair the Board’s Compensation and Talent Committee. Penny’s executive career in the consumer goods industry has led to an extensive career on portfolio boards spanning retail, media, entertainment, technology and financial services within boards of directors of public and private companies. Penny is currently Chair of the Boards of Directors of The Gym Group plc and Riverstone Living Ltd and has served as Chair of Aston Martin Lagonda as well as Chair of the Compensation and Sustainability Board Committees of several large companies. capitalization, including Royal Bank of Scotland, WM Morrison, The Gap Inc and Vodafone.

Niall FitzGerald, Chairman of the Board, said: “I extend a warm welcome to Belinda, Brian and Penny to the Board of Directors. Each of them brings extensive experience and complementary skills acquired during distinguished careers as leaders and boards of directors. These appointments demonstrate our commitment to building a capable and diverse board of directors that upholds good practice standards in corporate governance and is an important step in our on-going preparations for the simultaneous listing and spin-off of ofi. in 2022. We will announce further appointments of non-executive directors in early 2022. “

Commenting on the appointments, CEO A Shekhar (pictured) added that he was eager to work with the latest additions to his team.

He said:”They share our belief in driving ofi’s goal of “Being the change for good food and a healthy future”. This is an important step towards forming an effective board of directors for ofi that will provide the stewardship necessary to ensure sustainable and profitable growth for all stakeholders. “

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