Tate & Lyle PLC (LON:TATE) has announced the appointment of Sarah Kuijlaars to the position of Chief Financial Officer, and to the Board of Tate & Lyle, with effect from 16 September 2024.
Sarah Kuijlaars is an experienced international finance leader, having previously served as Chief Financial Officer of De Beers Group and Arcadis NV. Prior to that, she was Deputy Chief Financial Officer at Rolls-Royce Holdings plc and held a number of senior finance leadership roles during a 25-year career at Shell plc. Sarah is currently a non-executive director of Inchcape plc.
Sarah succeeds Dawn Allen who, as announced on 24 April 2024, is leaving Tate & Lyle to take up the position of Chief Financial Officer of Haleon plc. Dawn will step down as Chief Financial Officer and from Tate & Lyle’s Board on 15 September 2024 and will remain with the Company until late October to ensure a smooth transition.
Nick Hampton, Chief Executive, said: “Sarah is an outstanding addition to our executive team and I am delighted to welcome her to Tate & Lyle. Her proven track record of financial leadership in large and dynamic global businesses will prove invaluable to us as we enter the next phase of our growth agenda as a focused food and beverage solutions business.”
David Hearn, Chair, said: “Sarah brings a wealth of financial, commercial and international experience to Tate & Lyle which will be of significant value to the Company as it continues to expand and develop. We are delighted to welcome Sarah to our Board.”
Sarah Kuijlaars said: “I am excited to be joining Tate & Lyle at such an important time in the Company’s development. I look forward to working with Nick and the senior leadership team to continue to support Tate & Lyle’s customers across the world, and to deliver on the Company’s growth ambitions.”
Notes:
1) Biography for Sarah Kuijlaars
Sarah Kuijlaars, 56, joined Shell plc in 1989 where, during a 25-year career, she held a number of finance leadership roles in geographies such as Nigeria, Russia, Brazil and the Middle East. In 2016 she was appointed Deputy Chief Financial Officer & Group Controller, Rolls-Royce Holdings plc and then, in 2017, became Chief Financial Officer, Civil Aerospace at Rolls-Royce. In 2018, she took up the position of Chief Financial Officer of Arcadis NV, a leading global design, engineering and management consultancy with a listing on the Euronext Amsterdam Stock Exchange. Then, from 2020 to 2023, she served as Chief Financial Officer of De Beers Group (owned 85% by Anglo American PLC and 15% by the Government of the Republic of Botswana), one of the world’s largest diamond companies.
Sarah currently serves as a non-executive director of Inchcape plc (from January 2022), a leading automotive distributor, where she chairs the Audit Committee. Previously, she has held non-executive directorships at Kumba Iron Ore Limited (2023) a subsidiary of Anglo American plc with a listing on the Johannesburg Stock Exchange, and Aggreko plc (2019 – 2021).
Sarah is a British national and has a Mathematics degree from Oxford University. She is a Fellow of the Chartered Institute of Management Accountants (FCMA) and an Associate member of The Association of Corporate Treasurers (ACT).
2) Remuneration Arrangements
Sarah Kuijlaars is appointed on an annual salary of £500,000. She will participate in our established executive director incentive arrangements, currently comprising, in summary:
· Annual discretionary bonus: 75% of salary at target and a maximum opportunity of 150% of salary, subject to performance conditions; with awards in excess of 100% of salary made as shares which are released after 24 months.
· Long-term (Performance Share Plan) awards of up to 300% (maximum) of base salary each year, subject to specified performance conditions over a three-year performance period, with shares subject to a further two-year post-vesting holding period.
She is required to accumulate a shareholding in Tate & Lyle equivalent to three times base salary within five years of joining.
3) Disclosures
Other than as disclosed above, no other information is required to be disclosed pursuant to paragraph 6.4.8R of the Listing Rules in respect of Sarah’s appointment.
