USA – Ingredion Incorporated, a prominent player in the food and beverage industry, has announced the appointment of Dr. Michael Leonard as senior vice president, chief innovation officer, and head of protein fortification, effective May 13, 2024.
Leonard’s extensive experience in product development and commercialization, particularly in the Asia-Pacific region, positions him to drive innovation and growth for the company.
With over 21 years of experience spanning various food and beverage categories in both domestic and global markets, Leonard brings a wealth of expertise to his new role.
His track record in leading global R&D functions, process technology, and business development aligns well with Ingredion’s strategic goals.
Jim Zallie, president and CEO of Ingredion said: “With his vast experience in the food and beverage industry, deep technical knowledge and proven record of new product and process innovation, I am thrilled Mike is joining Ingredion to further strengthen our diversified portfolio of ingredients and solutions and drive continued advancements in innovation.”
Prior to joining Ingredion, Leonard served as the CEO of MycoTechnology, a food technology startup focusing on protein and bioactive technology platforms.
During his tenure, Leonard led the company’s global expansion and transformation, driving innovation in specialty food ingredients.
Before MycoTechnology, Leonard held leadership positions at Motif FoodWorks, Kraft Heinz, PepsiCo, DuPont Nutrition and Health, and International Flavors & Fragrances.
“I’m honored to be joining the team at Ingredion at such an exciting time in our industry, where an agile, entrepreneurial approach to innovation is critical for driving growth.
I’m grateful for the opportunity to have served MycoTechnology, a true disruptor in the value-added food ingredient space, and look forward to bringing my experience in both startup and multinational companies to accelerate innovation at Ingredion,” said Leonard.
Leonard’s academic background includes a BS in Chemistry from Roanoke College, a Ph.D. in Polymer Science and Engineering from the University of Massachusetts Amherst, and an MBA from the MIT Sloan School of Management.
In financial terms, Ingredion Incorporated recorded significant growth in full-year 2023, with operations totaling US$1,057 million, up from US$152 million in 2022.
Looking ahead to 2024, the company expects reported EPS in the range of US$10.20 to US$11.15 and adjusted EPS between US$9.15 and US$9.85, reflecting the impact of the S. Korea business divestiture.
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