New CEO for Kerry Group taste and nutrition
Malcolm Sheil has worked for the Tralee-headquartered company since graduating from Dublin City University in 1988, holding positions as corporate commercial controller and finance director in the US and Latin America. For the past 13 years he has been president of Kerry’s Latin American business.
Sheil said he was thrilled with the appointment which will see him head Europe, a region which accounts for almost one third (30%) of the ingredient division. “The taste and nutrition of products are intricately linked and we will continue to invest heavily in research and development
to ensure that we can bring tasty and nutritious solutions to our growing client base,” he said.
The announcement comes just months after the firm said it had selected a new CEO for the whole group, with Edmond Scanlon, current chief executive of the group’s Asia-Pacific operations, set to take over from Stan McCarthy after he retires in September this year.
In 2016 the Kerry announced a group revenue of €6.1 billion, of which taste and nutrition accounted for €4.9 billion. This represented a 4% volume growth for the division while the consumer-facing foods division grew at half the rate (2.1%) to be worth €1.3 bn.
The firm put its success down to its product portfolio which is well placed to cater to consumer demand for healthy products. “Health and wellness trends continued to drive ‘nutritionally minded’ consumer choice, increasing demand for taste, active nutrition, higher protein, natural, ‘free-from’, authentic, clean-label, convenient food and beverage products,” it said.
It has also been investing significantly in research and development (R&D) for B2B ingredients, spending €261m last year compared to €234m in 2015.
“I am thrilled to be appointed to lead this region for Kerry Taste and Nutrition. It is a very exciting time for our industry as we continue to respond to and provide solutions to the evolving demands and requirements of consumers across Europe.
“Our food and beverage heritage has helped position us strongly as our technologies and systems allow us to create customised solutions for our customers,” added Sheil.
Together the North and Latin American regions account for 54% of Kerry’s Taste and Nutrition revenue while Europe brings in 30% and Asia Pacific 16%.
