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INGREDION INCORPORATED

(INGR)
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Ingredion Incorporated : Jeremy Xu Joins Ingredion as Senior Vice President and Chief Innovation Officer

07/09/2020 | 09:17am EDT

WESTCHESTER, Ill., July 09, 2020 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions, today announced that Jeremy Xu has been named senior vice president, and chief innovation officer, effective October 1. In this capacity, Xu will be responsible for advancing the Company’s focus on specialty growth platforms, identifying new growth opportunities and overseeing the Ingredion Idea Labs® innovation centers. Xu will report to Jim Zallie, president and chief executive officer. Xu will succeed Tony DeLio who will be retiring in February 2021 after 14 years of service.

Xu joins the Company from Royal DSM, where he spent four years leading a global business unit in the nutritional ingredients space. Before that role, he spent 16 years at DuPont serving in a variety of leadership roles across Asia and the U.S.

“Jeremy is an accomplished global leader with a strong reputation for successfully driving innovation and growth while cultivating high-performing, agile teams,” said Zallie. “Jeremy brings a global perspective and deep specialty food ingredient experience, which is critical as we identify new opportunities for our customers. We look forward to having an executive of his caliber join the Ingredion team.”

Xu holds a bachelor’s degree in biology and biomedical engineering from Zhejiang University in China and earned a doctorate in biochemistry and molecular biology as well as a master’s degree in business administration from Purdue University. He also holds a master’s degree in plant physiology from the Chinese University of Hong Kong. Xu is fluent in English, Mandarin and Cantonese. Xu will relocate to the New Jersey area from Switzerland with his family.

ABOUT THE COMPANY

Ingredion Incorporated (NYSE: INGR) headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2019 annual net sales of more than $6 billion, the company turns grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs® innovation centers located around the world and more than 11,000 employees, the Company co-creates with customers and fulfills its purpose of bringing the potential of people, nature and technology together to make life better. Visit ingredion.com for more information and the latest Company news.

CONTACTS:
Investors: Tiffany Willis, 708-551-2592
Media: Becca Hary, 708-551-2602


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Source: Ingredion Incorporated

2020 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2021 6 649 M - -
Net income 2021 101 M - -
Net Debt 2021 1 843 M - -
P/E ratio 2021 63,2x
Yield 2021 2,77%
Capitalization 6 324 M 6 324 M -
EV / Sales 2021 1,23x
EV / Sales 2022 1,19x
Nbr of Employees 12 000
Free-Float 85,6%
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Mean consensus HOLD
Number of Analysts 5
Average target price 96,40 $
Last Close Price 94,42 $
Spread / Highest target 27,1%
Spread / Average Target 2,10%
Spread / Lowest Target -11,0%
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Managers and Directors
NameTitle
James P. Zallie President, Chief Executive Officer & Director
James Derek Gray CFO, Principal Accounting Officer & Executive VP
Gregory B. Kenny Executive Chairman
Robert O. Border Chief Information Officer
Janet Merritt Bawcom Secretary, Chief Compliance Officer & Senior VP
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