Treatt PLC - Suffolk, England-based manufacturer and supplier of extracts and ingredients for the beverage, flavour and fragrance industries - Says that Chief Executive Officer Daemmon Reeve has decided to retire from his role, and as a director of the company. Reeve has been at Treatt for 32 years, the last 11 as CEO. He will step down immediately for Treatt’s nomination committee, and from his role on December 31.

Treatt says it ‘regularly reviews’ succession planning, and has begun the process to appoint a new CEO. Until somebody is appointed, Chief Financial Officer Ryan Govender will become interim CEO from January 1.

Chair Vijay Thakrar says: ‘Daemmon has had a long and distinguished career at Treatt, overseeing a significant change in the company’s fortunes under his leadership. With the move into our new facility in Skyliner Way completed, the expansion in recent years of our US site and the recent establishment of our China subsidiary, the business is well positioned for growth and to capitalise on its strong market position.’

Current stock price: 430.00 pence

12-month change: down 26%

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