The Glanbia plc board has announced that Siobhán Talbot will retire from Glanbia plc following 10 years as group managing director of the company.
Talbot will step down from her position and from the Glanbia board on December 31, 2023 and will retire from the group in January 2024.
Hugh McGuire, currently chief executive officer (CEO) of Glanbia Performance Nutrition, will be appointed CEO of Glanbia plc and join the Glanbia board as an executive director from January 1, 2024.
Chair of Glanbia plc, Donard Gaynor said: “On behalf of the board, I would like to express our deep gratitude to Siobhán for her leadership and contribution to Glanbia over the past 10 years as group managing director.
“A deeply principled and values-driven leader, Siobhán has provided outstanding strategic direction to Glanbia, reshaping the business and its culture to become a clear leader in the world of better nutrition.
“She led the creation of a focused business which is aligned to growing consumer trends with clear purpose and values, a strong balance sheet and continued ambition for growth which are all key parts of her distinguished legacy.”
Gaynor explained that the CEO appointment was the conclusion of an extensive selection process led by the board’s Nomination and Governance Committee with the support of an executive search firm.
“Following this process, the board is delighted to appoint Hugh McGuire as CEO of Glanbia effective January 1, 2024,” Gaynor continued.
“Hugh has led the growth and evolution of [Glanbia Performance Nutrition] with unrelenting focus to become a global leader and a key earnings generator.
“He combines a passion for our business and our served markets with entrepreneurial flair and a growth mindset.
“I have known Hugh since I have joined the board and I know he is committed to Glanbia’s success and is the ideal leader to take us through to the next phase of our growth and evolution,” Gaynor said.
Siobhán Talbot added: “It has been my great privilege to lead Glanbia over the past 10 years. I am very proud of how the organisation has evolved, grown and strengthened over this period.
“It is well positioned for the next phase of growth with great people, culture and capabilities.
“I would like to wish Hugh well as he takes the helm in 2024 and I look forward to working with him on the leadership transition over the coming months.”
Hugh McGuire added: “I am honoured and delighted to have been appointed as the next CEO of Glanbia, an organisation I have been proud to serve over the last 20 years.
“It is a business and a sector that is closely aligned to my own passions and values and I’ve been privileged to be part of its transformation journey.
“Glanbia has great nutritional ingredients, brands and businesses, serving exciting categories in health and wellness that truly support our consumers and customers to reach their nutritional goals.
“In addition we have really talented people and a strong values led culture. I look forward to working with my colleagues globally to capture the growth opportunities ahead, to sustainably create shareholder value and achieve our full potential as a better nutrition business.”
Glanbia leaders
Siobhán Talbot joined the Glanbia group in 1992 and held a number of senior positions, including group finance director, prior to her appointment as group managing director in 2013.
Under Talbot’s leadership, Glanbia said it has been transformed into a focused, global, better nutrition business, serving growing consumer nutrition trends and societal needs.
The group’s business model has been reshaped towards growing and higher margin consumer branded and ingredient nutrition markets worldwide.
According to the company, Glanbia Performance Nutrition is the world’s leading sports nutrition business including the Optimum Nutrition brand.
Hugh McGuire joined Glanbia in 2003 and held a range of senior leadership roles across the group, residing in the US for nine years, during his career with the company.
He initially worked in the ingredients division culminating in his role as CEO of Glanbia Customised Solutions where he led the development of the global vitamin and mineral premix business through a number of organic development and merger and acquisition (M&A) projects in the US, Europe and Asia.
In 2008 he was appointed CEO of Glanbia’s Performance Nutrition business which has grown from annual revenues of $185 million to $1.7 billion in 2022.
In this period the flagship Optimum Nutrition brand has grown revenues by 16% annually to become Glanbia’s first $1 billion brand earlier this year.
Prior to joining Glanbia, Hugh worked for McKinsey & Company as a consultant across a range of industry sectors and prior to this in marketing and commercial roles with Nestlé and Leaf.
He holds an M.Sc. in Food Science from University College Dublin (UCD) and has a diploma in accounting and finance from the Association of Chartered Certified Accountants (ACCA) Ireland.
On his appointment to the board, McGuire will also be appointed to the Corporate Development Board Committee of the company.