SINGAPORE – Olam International Limited (“Olam”) today announces that Niall FitzGerald has been appointed as the Chair of the Board of Directors for its operating group, Olam Food Ingredients (“OFI”), effective 9 September 2021. OFI was created in early 2020 following the announcement of the re-organisation of Olam to unlock and maximise its long-term value. OFI intends to seek a primary listing on the premium segment of the London Stock Exchange, and a concurrent secondary listing in Singapore in H1 2022.
Niall is a widely respected and experienced business leader. His executive career with Unilever spanned 37 years, including 18 years as an executive board member, during which period he served as Finance Director, Foods Director and Detergents Director until his appointment as Chair and CEO in 1996; a position he held for 8 years until 2004.
Niall has chaired a broad range of companies and public bodies including Reuters, Hakluyt, Brand Learning, British Museum, Nelson Mandela Legacy Trust, International Business Council and the Advertising Association. He has also served on several Boards, including Bank of Ireland, Ericsson, Merck, Prudential Corp, the Foundation Board of the World Economic Forum, International Policy Council for Agriculture and Trade and was President of South Africa’s International Advisory Council. His current engagements include Chair of The Leverhulme Trust, Chair Hakluyt International Advisory Council and Patron British Irish Chamber of Commerce.
Commenting on the appointment, Chairman of Olam’s Board of Directors, Lim Ah Doo said:
“On behalf of the Olam Board, I am pleased to welcome Niall FitzGerald, a highly successful and distinguished international business leader to be the first Chair of the Board of OFI. Today’s announcement is an important step in our ongoing preparations for the concurrent listing and demerger of OFI. I am confident that Niall will build and lead an effective Board for OFI, which will provide stewardship for sustained profitable growth and value creation with best-in-class governance for all its stakeholders.”
Niall FitzGerald commented:
“It is an honour to be invited by the Olam Board to become the first Chair of the Board of OFI. I am delighted to join this exciting business which is right on trend through its natural ingredients portfolio which has a huge growth potential across the world. The track record in showing how commercial success, a passionate commitment to sustainability and positive social impact can integrate effectively, has a particular appeal. The opportunity to bring this business to the public markets and recruit a diverse and skilled board will also be a new challenge. I look forward to supporting Shekhar and his talented executive team as they pursue sustained profitable growth with measurable social and environmental impact.”
A Shekhar, Chief Executive Officer of OFI commented:
“It will be a privilege to work with Niall and I am confident that his extensive business experience and the network that he has built over his stellar career will bring significant benefits to OFI. OFI has a great legacy and an exciting future ahead and Niall’s appointment comes at an important next phase of our evolution, in which his counsel and support will be hugely valuable for me and my management team.”