Tony DeLio has been named CEO of PureCircle following the completion of the acquisition by Ingredion for the stevia supplier.
The acquisition was announced earlier this year in which Ingredion agreed to buy a controlling 75% stake in PureCircle. Following the transaction closure, PureCircle is now wholly owned by Ingredion’s acquisition subsidiary.
As part of the integration of the two companies, Ingredion has made two leadership changes which are effective immediately.
DeLio will now serve as CEO of PureCircle in addition to his current responsibilities as chief innovation officer of Ingredion.
He will succeed Peter Lai Hock Meng who was only appointed CEO of PureCircle in January earlier this year, amongst other leadership changes.
Meanwhile, SukGu Kim will become the chief financial officer of PureCircle. Most recently, Kim served as the finance director for Ingredion’s largest region in Asia-Pacific.
“This is a significant step forward as we advance our Driving Growth Roadmap and further align our sugar reduction and specialty sweetener platform to the megatrends in the food and beverage industry,” said Jim Zallie, Ingredion’s president and CEO.
He continued: “PureCircle provides substantial growth potential that is aligned with our strategy to create long-term shareholder value. We have always had tremendous respect for the PureCircle team and the business they have built over the last two decades.
“Most importantly, our team stands ready to drive new growth opportunities that are fully aligned with consumers’ preferences for plant-based alternatives that are sustainable, good for the environment and taste great.”
© FoodBev Media Ltd 2020