UK – ABF Ingredients (ABFI), the Specialty Ingredients Division of Associated British Foods (ABF), has announced the appointment of Jeremy Xu as its Chief Executive Officer, effective April 9, 2024.
Currently serving as the Senior Vice President, Chief Innovation Officer, and President of Global Healthful Solutions at Ingredion, Xu brings extensive global ingredients experience to lead ABFI into its next phase of growth.
Xu expressed his enthusiasm for the new role, stating, “I have long admired ABFI from afar and am excited at this opportunity to lead the next stage of its growth.
Each of ABFI’s businesses is synonymous with excellence in specialty ingredients. They all have distinct identities but are united by their shared business philosophy and the strength of their deeply impressive leadership teams.”
With a career spanning 30 years, including roles at Dupont and DSM, Xu has demonstrated expertise in growth strategy, research and development, and technological innovation. At Ingredion, he played a pivotal role in shaping the company’s direction since joining in 2020.
George Weston, Chief Executive of Associated British Foods plc, expressed his delight at Xu’s appointment, highlighting the potential benefits of his leadership.
Weston stated, “He is a first-rate global leader; I know we are going to benefit greatly from his deep specialty ingredient knowledge and multimarket experience, together with his customer and business-focused approach to R&D and innovation.”
Xu will take over from Fabienne Saadane-Oaks, who has been the CEO of ABFI since 2015. Saadane-Oaks will retire from the company and executive life in April 2024 after 35 years in the specialty ingredients sector.
During her tenure, ABFI’s portfolio expanded from four to seven businesses, including AB Biotek Human Nutrition and Health, AB Enzymes, ABITEC, Fytexia, Ohly, PGP International, and SPI Pharma.
Weston commended Saadane-Oaks, saying, “I’d like to pay tribute to Fabienne Saadane-Oaks at the close of nine hugely successful years at ABFI. Fabienne has brought experience, intelligence, energy, warmth, and scale to our business.
She has very high standards and has been a great developer of talent and mentor for colleagues.”
In November 2023, ABF’s overall Ingredients segment reported a full-year revenue of US$2,345 million and an adjusted operating profit of US$232.7 million.
ABFI, with over 1,200 employees, operates in more than 50 countries, with manufacturing and R&D facilities in 15 countries across Europe, the Americas, and India.
The division comprises seven businesses, each with distinct identities and a global presence.
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