Directorate Change

Directorate Change

Tate & Lyle PLC

Tate & Lyle PLC – 24 June 2014

Directorate Change

Tate & Lyle PLC (Tate & Lyle) announces the appointment of Nick Hampton to the position of Chief Financial Officer and to the Board of Tate & Lyle with effect from 1 September 2014. Tim Lodge, Chief Financial Officer since 2008, will continue in his current role and as a Director until 31 August 2014, and will then leave Tate & Lyle after a short transition period.

Nick Hampton joins Tate & Lyle from PepsiCo where he has been President West Europe and Senior Vice President Commercial Europe since 2013. Prior to that, during a 20-year career at PepsiCo, he held a number of senior finance and operational roles.

Javed Ahmed, Chief Executive said, "I am delighted to welcome Nick to Tate & Lyle. He brings with him a wealth of experience in the food and beverage industry and his strong expertise and knowledge will be highly complementary to our team. I very much look forward to working with him as we continue to execute our strategy.”

Javed Ahmed added, “Tim has been a great support to the Board, to me personally and to the executive team, and has led key aspects of the transformation of Tate & Lyle with distinction. After six years in the role, Tim indicated to the Board that he was ready for a new challenge. I am sorry to see him go and I would like to thank Tim for the important role he has played in the success of Tate & Lyle.”

Sir Peter Gershon, Chairman of Tate & Lyle said “Nick brings extensive commercial and technical knowledge to Tate & Lyle and is a very welcome addition to our Board. We are very grateful to Tim for his outstanding contribution in his six years as Chief Financial Officer and throughout his 25-year career with Tate & Lyle. We wish him every success in the next stage of his career.”

End

For more information contact Tate & Lyle PLC:

Mathew Wootton, Group VP, Investor and Media Relations
Tel: [phone] or Mobile: [phone]

Andrew Lorenz, FTI Consulting
Tel: [phone] or Mobile: [phone]

Notes:

1) Nick Hampton’s Biography

Anthony Nicholas Hampton (‘Nick’) started his career in 1989 with the management consultancy firm, Monitor, where he spent five years. In 1994, Nick joined PepsiCo where he spent a number of years in strategy and planning roles in Europe, the Middle East and Africa. After a period serving in procurement and logistics, in 2002 he was appointed Vice President, Operations for Walkers Snack Foods. In 2004, he was appointed Vice President Operations for PepsiCo UK and Ireland, and in 2005 added the role of Chief Financial Officer for the same area. In 2008, he became Senior Vice President and Chief Financial Officer, Europe, a position he held until 2013 when he was appointed PepsiCo’s President West Europe Region and Senior Vice President Commercial, Europe. Nick holds a Master’s Degree in Chemistry from St. John’s College, Oxford University.

2) Remuneration Arrangements

Nick Hampton

Nick Hampton (‘Nick’) has been appointed on an annual salary of £480,000. This will next be reviewed in April 2015. He will also receive a company contribution to his pension plan of 25% of base salary. He will also be eligible for a bonus under Tate & Lyle’s discretionary bonus scheme. The bonus scheme currently provides for a bonus paid at 50% of salary at target and a maximum opportunity of 175% of salary. Bonus awards are subject to performance conditions and awards in excess of 100% of salary are currently made as shares which are released after 24 months. His bonus participation in 2014/15 will be on a time pro-rated basis.

Nick will be eligible to receive a Performance Share Plan (PSP) award of up to 300% (maximum) of base salary which will be subject to a three-year performance period. He is required to accumulate a shareholding in Tate & Lyle equivalent to three times base salary within five years of joining the Company.

To compensate Nick for incentive awards that he will forfeit at PepsiCo Europe, Tate & Lyle will make him a one-off Restricted Stock Award (RSA) of £1,200,000 worth of shares in Tate & Lyle (delivered in two equal tranches on the first and second anniversaries of his employment with Tate & Lyle subject to achievement of performance conditions). In addition, he will receive a PSP award in 2014 of £1,440,000 worth of shares in Tate & Lyle. The foregoing RSA and PSP award will be subject to forfeiture/repayment if he ceases to be employed in the first 36 months of employment due to his resignation or dismissal for cause.

Tim Lodge

It has been agreed that Tim Lodge's (Tim) notice period will run from 1 July 2014. He will continue in his current role as Chief Financial Officer until 31 August 2014, after which there will be a period in which he will assist in an orderly handover of his duties. This handover period will end on 31 December 2014. Tim will then receive payment of salary in lieu of the 6 month balance of his notice period.

Tim will be eligible to receive a bonus for 2014/15 on a time pro-rated basis calculated in accordance with the Group Bonus Plan rules and reflecting the proportion of the financial year during which he is employed. Tim's PSP awards will vest subject to the rules of the Scheme and the relevant performance criteria on a time pro-rated basis reflecting the proportion of the 3-year vesting period during which he is employed.