Tate & Lyle poaches CFO from PepsiCo

24th Jun 2014 09:04

Sugar and ingredients group Tate & Lyle has appointed a new Chief Financial Officer (CFO) poached from PepsiCo.Current CFO Tim Lodge, who has been in the role since 2008, will step down at the end of August, with new man Nick Hampton taking up the role on September 1st and working with Lodge for a short transition period. Hampton leaves PepsiCo after a 20-year career, most recently as as President West Europe and Senior Vice President Commercial Europe, following a number of senior finance and operational roles.Tate & Lyle's Chief Executive Javed Ahmed said Lodge had indicated he wanted to leave, but was delighted to welcome Hampton. "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. I very much look forward to working with him as we continue to execute our strategy."Shares in the company hopped 3.75p higher, or 0.55%, to 685.25p on the news. OH