Nick Hampton, Tate & Lyle’s finance director and, since yesterday, its chief executive-designate, joined the former sugar refiner in the teeth of a crisis. It had sold the loss-making sugar business that still bears its name four years earlier and had pinned its future on corn sweeteners and industrial starches.
The strategy of moving into higher-margin speciality products proved a success, until Chinese producers began flooding the market with sucralose. Profit warnings followed and Mr Hampton, 50, became a key member of the stabilisation team. Working with Javed Ahmed, who will hand him the reins in April, he focused on shoring up the finances. His elevation is a reward for a job well done.
When Mr Hampton arrived in 2014, the 159-year-old company could