13th Feb 2017 11:49
LONDON (Alliance News) - Tate & Lyle PLC Monday said its incoming Chairman Gerry Murphy acquired shares in the bulk ingredients supplier on Friday.
Marian Murphy, wife of Gerry Murphy bought 10,000 shares at 716.86 pence each.
Murphy, who was appointed in December, will succeed current Chairman Peter Gershon on April 1, following Gershon's retirement on March 31.
Murphy is chairman of the European arm of US private equity and investment banking firm The Blackstone Group LP, and was previously chief executive of convenience foods producer Greencore Group PLC and DIY retailer Kingfisher PLC, which owns B&Q.
He also previously worked at drinks giant Diageo PLC and is currently a non-executive director at tobacco giant British American Tobacco PLC.
Tate & Lyle last Thursday said that its full-year results are set to modestly beat prior expectations thanks to a strong third quarter for its Bulk Ingredients unit.
Tate & Lyle said its Specialty Food Ingredients business traded in line with its expectations in the third quarter to the end of December, with profit ahead year-on-year thanks to better commercial execution and a strong manufacturing performance in the unit.
The stock was down 0.1% at 716.00p on Monday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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