TRALEE, IRELAND — Stan McCarthy, who became chief executive officer of Kerry Group in 2008, will retire from that position on Sept. 30 and as director of Kerry Group at the end of the year. Edmond Scanlon, currently president and c.e.o. of Kerry Asia Pacific, will succeed Mr. McCarthy. Kerry’s board of directors appointed Mr. Scanlon as chief executive designate in a Feb. 20 meeting.
Mr. Scanlon’s experience in functional ingredient and actives and his perspective in Asia gave him strong credentials to become the next c.e.o. for Tralee-based Kerry Group, Mr. McCarthy said in a Feb. 21 earnings call.
“If we were to take a three-, five-year guess, yes, Asia could be a much more significant part of our business because of the growth that we’re experiencing there,” Mr. McCarthy said.
Mr. Scanlon joined Kerry’s graduate development program in 1996 and worked in finance until he was appointed vice-president, finance, supply chain and operations of Kerry’s global flavors division in 2004. He became vice-president, mergers and acquisitions, Kerry Americas region in 2007 and global president of Kerry functional ingredients and actives in 2008. Mr. Scanlon became president of Kerry China in 2012 and then president and c.e.o. of Kerry Asia Pacific in November 2013.
Mr. McCarthy joined Kerry Group’s graduate recruitment program in Ireland in 1976. He worked in finance until being appointed financial controller in the United States in 1984. Mr. McCarthy was named vice-president of materials management and purchasing in 1988 and vice-president of sales and marketing in 1991. Mr. McCarthy began serving as president of Kerry America in 1996. He became executive director of Kerry Group in 1999 and then c.e.o. on Jan. 1, 2008.
“Kerry Group has undergone remarkable development under Stan’s leadership and stewardship, and together with my colleagues, I look forward to continuing to build Kerry Group and to embrace the growth opportunities that are ahead,” Mr. Scanlon said in the Feb. 21 earnings call.
The Kerry Group on Feb. 21 also reported it has appointed Gerard Culligan and Con Murphy to its board, effective June 1. Both men formerly were directors of Kerry Co-Operative Creameries Ltd.
Mr. Culligan operates his own business in the agribusiness sector and serves as a director and co-owner of two private companies in the marine industry. He is chairman of Kilrush Credit Union Ltd. in County Clare, Ireland. Mr. Murphy owns his own business in the agribusiness sector and serves as chairman of the Irish Montbeliarde Cattle Society.
The Kerry Group in the year ended Dec. 31, 2016, reported profit after taxation and attributable to owners of the parent company of €533.1 million ($561.8 million), up 1.5% from €525.4 million in the previous year. Adjusted earnings were €569.1 million, up 7% from €531 million. Revenues of €6,130.6 million ($6,460.6 million) were up 0.4% from €6,104.9 million in the previous year.In Kerry’s Taste and Nutrition business, trading profit of €716 million was up 8.1% from the previous fiscal year. Revenues rose 4% to €4,880 million. Within Taste and Nutrition, the Americas region reported a 12% increase in sales revenue of €2,589 million, reflecting 3.9% volume growth and 2.1% lower pricing.