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|INGREDION INCORPORATED CFO CHERYL BEEBE ANNOUNCES RETIREMENT|
WESTCHESTER, Ill., October 30, 2013 - Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to diversified industries, today announced that CFO and Executive Vice President Cheryl Beebe has decided to retire due to family health issues. Her retirement will be effective January 6, 2014.
"It is with great regret that we announce Cheryl's retirement today. She has brought immense passion, leadership, commitment and world class financial acumen to our company for decades," said Ilene Gordon, chairman, president and chief executive officer. "Cheryl has been a great partner over the past four years and has helped take Ingredion to new heights. She will be missed by our leadership team, our 11,000 employees, our board of directors and all of our external constituents. We wish her and her family all of our best."
We are fortunate to have a deep and talented executive team that allows us to continue our growth and strategic execution. To that end, I'm very pleased that Jack Fortnum will become our next CFO. Jack has a long and varied financial background along with a decade of highly successful operating experience running our largest business. I have absolutely no doubt that Jack is going to be an outstanding CFO," Gordon added.
We're also fortunate to have Jim Zallie on-board. Jim joined us from National Starch, where he was the CEO. He has a long and successful history of running starch-related businesses. Since coming to Ingredion, he has added additional strategic thinking on innovation and specialty starches. I believe he will do a great job leading our North America team," Gordon concluded.
Jack Fortnum joined CPC International (Ingredion's former parent company) in 1984. Fortnum is currently President, North America. He held various executive positions within the region prior to that. Before moving to operational management, he held a wide range of key financial roles including Corporate Controller of Corn Products International from the time the Company was taken public until 2001. At CPC International, he was Vice President, Finance, Canadian Corn Refining business and Director, Finance, Latin American Corn Refining business. He holds a Bachelor's degree in economics from the University of Toronto.
James Zallie joined Ingredion in 2010 as part of the National Starch acquisition, where he was the CEO. He is currently President, Asia Pacific and EMEA. He worked at National Starch for over 27 years in various positions of increasing responsibility in technical, marketing and international business management. Zallie holds master's degrees in food science and business administration from Rutgers University and a Bachelor of Science in food science from Pennsylvania State University.
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