Vivid Sehgal Appointed Chief Financial Officer of Tate & Lyle PLC

Tate & Lyle PLC (Tate & Lyle) is pleased to announce the appointment of Vivid Sehgal to the position of Chief Financial Officer with effect from 1 May 2021.

Vivid will join Tate & Lyle as Chief Financial Officer Designate, and be appointed to the Board of Directors, from 1 March 2021. Over the following two months he will work with Imran Nawaz, the current Chief Financial Officer, to ensure a smooth transition before Imran leaves Tate & Lyle, as announced on 7 October 2020, to take up the position of Chief Financial Officer of Tesco plc.

Vivid Sehgal is a former Chief Financial Officer of Delphi Technologies PLC, a global provider of automotive propulsion technologies, having served from 2017 to 2020 when it was acquired by BorgWarner Inc. He also served as Chief Financial Officer of LivaNova PLC, a global medical technology company, from 2015 to 2017 and has previously held senior management positions in Allergan Inc., Gillette Inc., and GlaxoSmithKline PLC working across the US, Europe and the Middle East.

Nick Hampton, Chief Executive said: "I am delighted to welcome Vivid to Tate & Lyle and the executive team. He brings with him a proven track record of financial leadership as well as extensive commercial and transactional experience. I very much look forward to working with him as we continue to progress Tate & Lyle’s growth agenda.”

Gerry Murphy, Chairman said: “Vivid’s broad financial, business and international experience will be of great value to Tate & Lyle and he is a very welcome addition to our Board.”

Notes:

1) Vivid Sehgal’s Biography

Vivid Sehgal, 52, was Chief Financial Officer of Delphi Technologies PLC, a global provider of automotive propulsion technologies, from 2017 until it was acquired by BorgWarner Inc. in 2020. Prior to joining Delphi, he served as Chief Financial Officer of LivaNova PLC, a global medical technology company, from 2015 to 2017. Previously, Vivid served as Senior Vice President, Treasury, Risk and Investor Relations at Allergan, Inc. a multi-specialty health care company, from 2014 to 2015. Prior to assuming his position as Senior Vice President, Mr. Sehgal served as Vice President and Regional Controller of Allergan’s Europe, Middle East and Africa business from 2007 to 2014. Before Allergan, Mr. Sehgal worked for nine years in various roles with GlaxoSmithKline PLC and SmithKline Beecham PLC, where he eventually served as Group Controller for GSK’s International Pharmaceutical Division. In his early career, he worked for Gillette Company, Inc. during its acquisition by Procter and Gamble, Inc. and Grand Metropolitan plc. Vivid has a Masters degree in Finance and Investment from the University of Exeter, a Bachelor’s degree in Economics from the University of Leicester and is a member of the Chartered Institute of Management Accountants.

For rights free photos of Vivid Sehgal, please contact mediarelations@tateandlyle.com or call Anna Taylor-Elphick, Corporate PR Manager at Tate & Lyle on +44 (0)7766 361 515.

2) Remuneration Arrangements

Vivid Sehgal is appointed on an annual salary of £475,000. This will next be reviewed in April 2022. He will be eligible for a bonus under Tate & Lyle’s discretionary bonus scheme. This scheme currently provides for a bonus paid at 75% of salary at target and a maximum opportunity of 150% of salary. Bonus awards are subject to performance conditions and awards in excess of 100% of salary are currently made as shares which are released after 24 months.

Vivid will be eligible to receive a Performance Share Plan (PSP) award of up to 300% (maximum) of base salary which will be subject to a three-year performance period. A two-year post-vesting holding period follows the three-year performance period. No other share awards are due in relation to his appointment. He is required to accumulate a shareholding in Tate & Lyle equivalent to three times base salary within five years of joining the Company.

3) Disclosures

In accordance with paragraph 9.6.13 of the Financial Conduct Authority’s Listing Rules, the Company confirms that:

i) Vivid Sehgal holds no current directorships and has not held any directorships in the last five years in any publicly quoted companies; and
ii) There are no further disclosures to be made pursuant to paragraph 9.6.13 of the Financial Conduct Authority’s Listing Rules.

About Tate & Lyle: 
Tate & Lyle PLC is a leading global provider of food and beverage ingredients and solutions. Supported by our 160-year history of ingredient innovation, we partner with customers to provide consumers with healthier and tastier choices when they eat and drink. We are proud that millions of people around the world consume products containing our ingredients every day.

Through our expertise in sweetening, mouthfeel and fibre fortification, our Food & Beverage Solutions business develops solutions which reduce sugar, calories and fat, add fibre, and provide texture and stability in categories including beverages, dairy, bakery, soups, sauces and dressings. Our Primary Products business produces nutritive sweeteners, industrial starches used in paper and packaging, acidulants and products used for animal nutrition.

We have around 4,200 employees working in more than 60 locations across 30 countries. Tate & Lyle’s purpose is Improving Lives for Generations and through our purpose we believe we can successfully grow our business and have a positive impact on society. We live our purpose in three ways, by supporting healthy living, building thriving communities and caring for our planet.

Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year to 31 March 2020, Tate & Lyle sales totalled £2.9 billion. For more information, please visit http://www.tateandlyle.com or follow Tate & Lyle on Twitter, Linkedin or Facebook.