Appointment of Chief Executive Officer Designate

RNS Number : 0250V

Genus PLC

03 April 2023

 

For Immediate Release       3 April 2023

Genus plc
('Genus', or the 'Company')

Appointment of Chief Executive Officer Designate

Genus plc (LSE: GNS),  a leading global animal genetics company,  announces that Jorgen Kokke has been appointed by the Board as Chief Executive Officer Designate with effect from 2 May 2023.
This follows the announcement made on 23 February 2023, that Stephen Wilson will retire on 30 September 2023.  Jorgen will become Chief Executive Officer of Genus from 1 July 2023.  From that date, Stephen Wilson will step down from his role as Chief Executive Officer, but will remain actively involved in the Company to support the smooth transition of responsibility. Stephen will deliver the full year results in September and continue in his role as an executive director until his retirement on 30 September 2023. 

Jorgen has deep experience in the international food and agriculture sectors having spent the last 14 years in global business leadership roles of increasing responsibility at Ingredion Incorporated, a leading food and beverage i ngredient solutions company, listed on the New York Stock Exchange.  Most recently, Jorgen was Executive Vice President & President Americas with responsibility for all operational and strategic management decisions across its $6 billion North and South American businesses, driving growth by leveraging research and development led innovation and commercial and operational excellence.  Prior to his time at Ingredion, Jorgen worked at CSM NV, another global ingredients company, where he was Vice President of Food and Nutrition and prior to that, at Unilever. 

Iain Ferguson, Chairman of Genus, commented on Jorgen's appointment:

"I am delighted to welcome Jorgen to Genus. He is an internationally experienced business leader with extensive food sector knowledge. Jorgen has proven international leadership, clear strategic vision, and the ability to engage and continue to motivate our employees and porcine and bovine customers.  He is ideally suited to lead Genus through the next stage of our continued growth, and it is clear that Genus will continue to be in strong hands.  The Board and I would like to thank Stephen for his ongoing commitment to the Company and his significant contributions to its success."

Jorgen Kokke, designate Chief Executive Officer, responded: 

"I am joining Genus because I can see the great potential for the Company, which is already a global leader in the porcine and bovine genetics market.  I have been consistently impressed by the quality of the people I've met within the business and the strength of its culture.  I'm excited by Genus's innovation, which includes its PRRSv resistant pig programme, its global commercial reach and its world leading product line-up.  I believe Genus has an exciting future and I will aim to drive forward its many strategic and growth opportunities, delivering value to our customers, employees and shareholders. I am also looking forward to working with Stephen Wilson on a seamless transition and thank him for his continued input."

Genus	Tel: [phone]
Iain Ferguson, Chair Alison Henriksen, Chief Financial Officer
Buchanan	Tel: [phone]
Charles Ryland / Chris Lane / Verity Parker

This announcement is available on the Genus website  www.genusplc.com

About Genus

Genus is a world-leading animal genetics company. Genus creates advances to animal breeding and genetic improvement by applying biotechnology and sells added value products for livestock farming and food producers. Its technology is applicable across livestock species and is currently commercialised by Genus in the dairy, beef and pork food production sectors.

Genus's worldwide sales are made in over seventy-five countries under the trademarks 'ABS' (dairy and beef cattle) and 'PIC' (pigs) and comprise semen, embryos and breeding animals with superior genetics to those animals currently in farms. Genus's customers' animals produce offspring with greater production efficiency, and quality, and use these to supply the global dairy and meat supply chains.

The Group's competitive edge has been created from the ownership and control of proprietary lines of breeding animals, the biotechnology used to improve them and its global supply chain, technical service and sales and distribution network.

With headquarters in Basingstoke, United Kingdom, Genus companies operate in over twenty-five countries on six continents, with research laboratories located in Madison, Wisconsin, USA.

Regulatory Notes

Details of any payments to be made to Jorgen Kokke will be disclosed in full in the Company's 2023 Directors' Remuneration Report.  Any such terms will be consistent with the Company's approved Directors' Remuneration Policy.

This announcement is made in accordance with Listing Rule 9.6.11R.  There are no matters to be disclosed in connection with Listing Rule 9.6.13R (2) - (6).

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.  The person responsible for making this announcement on behalf of the Group is Dan Hartley (General Counsel and Company Secretary).

 

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