Olam adds three directors to board

Olam International on Friday announced that it has appointed three new non-executive directors to its board, effective from Sept 1.

Joerg Wolle, who is regarded as independent, is the chairman of Kuehne + Nagel International AG and Klingelnberg AG. He is a director on the board of Kuehne Holding and a member of the board of trustees of Kuehne Foundation. Executive positions he has held include president and CEO of DKSH Holding, and president and CEO of Siber Hegner Holding. Dr Wolle holds a PhD in engineering.

Ajai Puri, who is also regarded as independent, is a non-executive director of Tate & Lyle PLC, Firmenich S.A. and Britannia Industries. He has served previously as an executive at The Coca Cola Company / The Minute Maid Company and Royal Numico N.V. Dr Puri holds an MBA in marketing and a PhD in food science.

Nagi Hamiyeh is regarded as non-independent, and is currently joint head of investment group and head of consumer at Temasek International. Before joining Temasek in 2005, he worked with Credit Suisse First Boston and Bain & Company. Mr Hamiyeh holds a master of science degree in civil and environmental engineering, as well as a bachelor of science degree in civil engineering.

Olam's board chairman Lim Ah Doo said the new directors' backgrounds "will complement, augment and strengthen our board's overall skills set and stewardship effectiveness".

Said Olam group CEO Sunny Verghese: "Our new strategy involves a much greater focus on rapidly evolving consumer preferences on health and nutrition, supply chain provenance and traceable sustainability, all of which are driving a greater predisposition on the part of our end consumers towards products and ingredients that are 'right-for-me', 'right-for-the-planet' and 'right-for-the-producers'."

Mr Verghese noted that the three directors have substantive experience in food ingredients, agribusiness, logistics and Africa, which are of significant value to the new strategy.

"We look forward to working with them and leveraging their expertise, insights and counsel for the next phase of Olam's growth," he said.