Glanbia PLC Glanbia announces CEO appointment (4275J)
16 Agosto 2023 - 8:00AM
UK Regulatory
TIDMGLB
RNS Number : 4275J
Glanbia PLC
16 August 2023
Glanbia announces CEO appointment
16 August 2023. The Glanbia plc board (the "Board") announces
that Siobhán Talbot has notified it of her intention to retire from
Glanbia plc ("Glanbia", the "Company" or "Group") following ten
successful years as Group Managing Director of the Company. Siobhán
will step down from her position and from the Glanbia Board on 31
December 2023 and will retire from the Group in January 2024. Hugh
McGuire, currently Chief Executive Officer ("CEO") of Glanbia
Performance Nutrition ("GPN"), will be appointed CEO of Glanbia plc
and join the Glanbia Board as an Executive Director effective 1
January 2024.
Donard Gaynor, Chairman of Glanbia plc said: "On behalf of the
Board I would like to express our deep gratitude to Siobhán for her
leadership and contribution to Glanbia over the past ten years as
Group Managing Director. A deeply principled and values driven
leader, Siobhán has provided outstanding strategic direction to
Glanbia, reshaping the business and its culture to become a clear
leader in the world of better nutrition. She led the creation of a
focused business which is aligned to growing consumer trends with
clear purpose and values, a strong balance sheet and continued
ambition for growth which are all key parts of her distinguished
legacy.
The CEO appointment was the conclusion of an extensive selection
process led by the Board's Nomination and Governance Committee with
the support of an executive search firm. Following this process,
the Board is delighted to appoint Hugh McGuire as CEO of Glanbia
effective 1 January 2024. Hugh has led the growth and evolution of
GPN with unrelenting focus to become a global leader and a key
earnings generator. He combines a passion for our business and our
served markets with entrepreneurial flair and a growth mind-set. I
have known Hugh since I have joined the Board and I know he is
committed to Glanbia's success and is the ideal leader to take us
through to the next phase of our growth and evolution."
Siobhán Talbot, Group Managing Director, Glanbia plc added: "It
has been my great privilege to lead Glanbia over the past ten
years. I am very proud of how the organisation has evolved, grown
and strengthened over this period. It is well positioned for the
next phase of growth with great people, culture and capabilities. I
want to thank my leadership team and all my colleagues right across
the Group for their hard work and commitment to Glanbia and their
personal friendship.
I would like to wish Hugh well as he takes the helm in 2024 and
I look forward to working with him on the leadership transition
over the coming months. I know how passionate and committed to
Glanbia he is and I have no doubt he will drive the Group forward
in pursuit of its strategic focus on better nutrition."
Hugh McGuire, CEO of Glanbia Performance Nutrition added: "I am
honoured and delighted to have been appointed as the next CEO of
Glanbia, an organisation I have been proud to serve over the last
20 years. It is a business and a sector that is closely aligned to
my own passions and values and I've been privileged to be part of
its transformation journey. Siobhán leaves Glanbia in a very strong
position for future growth and I'd like to sincerely thank her for
all her support over the years.
My focus will be to build upon these strong foundations for the
benefit of all stakeholders in the years to come. Glanbia has great
nutritional ingredients, brands and businesses, serving exciting
categories in health and wellness that truly support our consumers
and customers to reach their nutritional goals. In addition we have
really talented people and a strong values led culture. I look
forward to working with my colleagues globally to capture the
growth opportunities ahead, to sustainably create shareholder value
and achieve our full potential as a better nutrition business."
Background
Siobhán Talbot joined the Group in 1992 and held a number of
senior positions, including Group Finance Director, prior to her
appointment as Group Managing Director in 2013.
Under Siobhán's leadership, Glanbia has been transformed into a
focused global better nutrition business, serving growing consumer
nutrition trends and societal needs. The Group's business model has
been reshaped towards growing and higher margin consumer branded
and ingredient nutrition markets worldwide. Today, Glanbia
Performance Nutrition is the world's leading sports nutrition
business including the Optimum Nutrition brand. Glanbia
Nutritionals has evolved its global capabilities and scale in
nutritional solutions with strong global positions in particular in
proteins and customised premix solutions for the food and beverage
industry. Under Siobhán's leadership, Glanbia has strengthened its
organisational resilience with a strong purpose and values driven
culture, a strong financial position and sustained returns to
shareholders.
Hugh McGuire joined Glanbia in 2003 and held a range of senior
leadership roles across the Group, residing in the US for nine
years, during his career with the Company. He initially worked in
the ingredients division culminating in his role as CEO of Glanbia
Customised Solutions where he led the development of the global
vitamin and mineral premix business through a number of organic
development and M&A projects in the US, Europe and Asia. In
2008 he was appointed CEO of Glanbia's Performance Nutrition
business ("GPN"). During his tenure, GPN has grown organically and
through M&A from annual revenues of $185 million to $1.7
billion in 2022 and has become the world's number one sports
nutrition business. In this period the flagship Optimum Nutrition
brand has grown revenues by 16% annually to become Glanbia's first
$1 billion brand earlier this year.
Hugh has been a member of the Group's Operating Executive since
2013 and served on the Board from 1 June 2013 until April 2019.
Prior to joining Glanbia, Hugh worked for McKinsey & Company as
a consultant across a range of industry sectors and prior to this
in marketing and commercial roles with Nestle and Leaf. He holds an
M.Sc. in Food Science from University College Dublin and has a
Diploma in Accounting and Finance from the Association of Chartered
Certified Accountants Ireland.
On his appointment to the Board, Hugh will also be appointed to
the Corporate Development Board Committee of the Company.
This announcement is made in accordance with Rule 6.1.64 of
Euronext Dublin Listing Rules and Rule 9.6.11 of the London Stock
Exchange Listing Rules. The Company confirms that there are no
other matters requiring disclosure under Rule 6.1.66 of Euronext
Dublin Listing Rules and Rule 9.6.13 of the London Stock Exchange
Listing Rules.
Inside Information
This announcement contains inside information. The person
responsible for arranging for the release of this announcement on
behalf of Glanbia plc is Liam Hennigan, Group Secretary and Head of
Investor Relations. The time and date of this announcement is, at
7am BST, 16 August 2023.
ENDS
For further information contact
Glanbia plc
+353 (0)56 777 2200
Liam Hennigan, Group Secretary & Head of Investor Relations:
+353 (0)86 046 8375
Donal O'Keeffe, Investor Relations Director:
+353 (0)86 047 2974
Martha Kavanagh, Director of Corporate Affairs: +353 (0)87 646
2006
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