Ingredion Names Charles Magro to Board of Directors

Rhea-AI Summary

Ingredion Incorporated (NYSE: INGR) has announced the election of Chuck Magro to its Board of Directors, effective May 1, 2022. Magro, who is currently the CEO of Corteva Inc., brings extensive experience in agriculture and sustainability. Ingredion’s CEO, Jim Zallie, expressed enthusiasm for Magro's appointment, highlighting his track record in solutions-driven innovation. Magro previously led Nutrien Ltd. and Agrium Inc., overseeing numerous acquisitions. With a robust background in the agriculture sector, he is expected to enhance Ingredion's commitment to growth and value creation.

Positive

• Chuck Magro brings extensive global experience in agriculture and sustainability.
• His appointment is expected to enhance innovation within the board.
• Magro's history of overseeing significant acquisitions may benefit Ingredion's growth.

Negative

• None.

WESTCHESTER, Ill., Dec. 16, 2021 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage manufacturing industry, today announced the election of Charles (“Chuck”) Magro to its board of directors, effective May 1, 2022. Currently, Magro serves as the Chief Executive Officer and a Director of Corteva Inc. (NYSE: CTVA), a publicly traded, global pure-play leader in agriculture with a diverse mix of seed, crop protection and digital solutions.

"I am extremely pleased to welcome Chuck to our board of directors," said Jim Zallie, Ingredion's president and chief executive officer. "Chuck brings extensive global experience and a successful track record of sustainability and solutions driven innovation from the start of the food system cycle in the agriculture industry which will be valuable to supporting our commitment to growth and value creation for all stakeholders.”

“On behalf of the board of directors, I am delighted to welcome Chuck to Ingredion’s board,” said Gregory Kenny, Ingredion’s chairperson of the Board. "Chuck is a seasoned and well-respected strategic leader who has delivered exceptional business results in his career and will bring broad contributions to our Board and I look forward to working with him.”

From January 2018 to April 2021, Magro served as president and chief executive officer of Nutrien Ltd., a $20 billion Canadian-based supplier of fertilizer, crop inputs, services, and solutions with 23,000 employees. From 2014 to 2018, Magro served as president and chief executive officer of Agrium Inc., a major supplier of agricultural products and services in North America, South America and Australia that merged in January 2018 with Potash Corp. of Saskatchewan to create Nutrien Ltd. where Magro oversaw more than 160 acquisitions and investments. Prior to this role, Magro held roles of increasing responsibility within Agrium Inc.

Currently, Magro is a director for the Canada Pension Plan Investment Board, a Canadian state-owned pension plan sponsor that oversees and invests the funds contributed to and held by the Canada Pension Plan.

Magro holds a bachelor of applied science degree in chemical engineering from the University of Waterloo and he earned a master’s degree in business administration from the University of Windsor.

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 2020 annual net sales of $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 around the world and approximately 12,000 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: Jason Payant, 708-551-2584
Media: Becca Hary, 708-551-2602

 

FAQ

Who is Chuck Magro and what role will he play at Ingredion?

Chuck Magro is the newly elected member of Ingredion's Board of Directors, effective May 1, 2022. He brings significant experience in agriculture and a successful track record in sustainability and innovation.

What experience does Chuck Magro have prior to joining Ingredion?

Before joining Ingredion, Chuck Magro was the CEO of Corteva Inc. and previously led Nutrien Ltd. and Agrium Inc., overseeing multiple acquisitions and driving growth strategies.

What is the expected impact of Chuck Magro's appointment on Ingredion?

His appointment is anticipated to strengthen Ingredion's commitment to innovation and sustainable practices, potentially driving growth and value for stakeholders.

When will Chuck Magro officially start his role at Ingredion?

Chuck Magro will officially join Ingredion's Board of Directors on May 1, 2022.

How does Chuck Magro's background align with Ingredion's business focus?

Chuck Magro's extensive experience in the agriculture sector and his focus on sustainability align well with Ingredion's mission of providing ingredient solutions in the food and beverage manufacturing industry.