ABF Ingredients, a global leader in specialty ingredients, announced that Jeremy Xu will join the company as chief executive officer on April 9, 2024.
Xu, who is currently SVP, chief innovation officer and president of global healthful solutions at Ingredion, will take responsibility for leading ABFI’s next phase of growth, driven by investment to enhance capability in both research and development and commercial activities.
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He brings significant global ingredients experience in growth strategy, R&D and technological innovation. In addition to his leadership role at Ingredion, which he joined in 2020, Xu’s 30-year career has included work with Dupont and DSM across Asia, Europe and the United States.
Fabienne Saadane-Oaks, who has been CEO of ABFI since 2015, will retire from the company and from executive life in April 2024 after 35 years in specialty ingredients, including nine at ABFI. Her tenure has seen the ABFI portfolio grow from four businesses to seven: AB Biotek Human Nutrition and Health, AB Enzymes, ABITEC, Fytexia, Ohly, PGP International and SPI Pharma.
ABFI is the specialty ingredients division of the London-listed Associated British Foods group of companies. In November 2023, ABF’s overall Ingredients segment posted full-year revenue of £2,157m and an adjusted operating profit of £214m.
Jeremy Xu, CEO-designate at ABFI, said: “I have long admired ABFI from afar and am excited at this opportunity to lead the next stage of its growth. Each of ABFI’s businesses is synonymous with excellence in specialty ingredients. They all have distinct identities, but are united by their shared business philosophy and the strength of their deeply impressive leadership teams. I look forward to working with my new colleagues at the businesses and within the wider ABF Group.”
Fabienne Saadane-Oaks, incumbent CEO at ABFI, said: “I am extremely proud of what the ABFI teams have accomplished over the past nine years and look forward to an even greater growth journey under Jeremy ‘s leadership.”
George Weston, Chief Executive, Associated British Foods plc, said: “I am delighted that Jeremy has agreed to join ABFI. He is a first-rate global leader; I know we are going to benefit greatly from his deep specialty ingredient knowledge and multimarket experience, together with his customer and business focused approach to R&D and innovation.
“I’d also like to pay tribute to Fabienne Saadane-Oaks at the close of nine hugely successful years at ABFI. Fabienne has brought experience, intelligence, energy, warmth and scale to our business. She has very high standards and has been a great developer of talent and mentor for colleagues. We wish her well for the future.”
