Associated British Foods plc has announced that Charles Sinclair, Chairman, notified his intention to retire from the board on 11 April 2018.
Michael McLintock, an independent non-executive director of the Company since 1 November 2017, will succeed Charles Sinclair as Chairman of the Company and as chairman of the Nomination committee on that date. Ruth Cairnie, an independent non-executive director of the Company, will succeed Charles as chair of the Remuneration committee on 11 April 2018.
In accordance with section 430(2B) of the Companies Act 2006, the Company confirms that Charles Sinclair will receive payment of fees for service up to the date of his leaving but that no other remuneration payment or payment for loss of office will be made in connection with his departure.
Carlsberg has announced the departure of its chief financial officer (CFO), Heine Dalsgaard, after six years in the position. In a statement, Carlsberg said that Dalsgaard was resigning from the post to take up the role of CFO at a private equity-backed company in a different industry.
Kellogg will split into three independent companies to focus on the snack business, Reuters reported Tuesday. The snacking portfolio will comprise the main business, while the North America cereal unit and the plant-based business will be spun off. The company is also considering a sale of the plant-based business.
The snacks giant says the acquisition will help build on its commitment to “lead the future of snacking” in key geographies worldwide. Once the transaction is completed, Mondelēz will continue to operate the Clif Bar business from its headquarters in Emeryville, California. The snack giant will also continue to manufacture Clif Bars’ products, which include Clif Bar, Luna and Clif Kid, at its facilities in Idaho and Indiana.