In November last year, PureCircle announced Magomet Malsagov had stepped down as CEO and would serve as adviser to the chairman. Malsagov has since resigned from his role as adviser.Lai has previously served on the board as a non-executive director from June 2008 until March 2017. He will commence the role of CEO as of 2 March 2020.Currently, Lai serves as adviser to the PureCircle board on China matter and is the chairman of the company’s two subsidiaries in that region.Prior to this, Lai has held various senior management positions in banking institutions including Morgan Grenfell Asia & Partners Securities and SocGen Crosby Securities and will leverage his experience to strengthen the company’s financial resources.
Meanwhile, the company’s current CCO Stephane Ducroux has been promoted to deputy CEO with immediate effect.Ducroux joined PureCircle in 2018 and has been responsible for several customer-facing functions including sales and marketing, technical and innovation as well as scientific and regulatory affairs.He has over 20 years of management experience in natural specialty ingredients including COO of Naturex Americas and Asia Pacific regions. Ducroux will continue to focus the company on providing customers with the company’s distinctive ingredient solutions and with strong support, while building on PureCircle’s legacy of innovation.Finally, Jimmy Lim Kian Thong will become chief financial officer as of 4 February 2020. Thong is a fellow chartered accountant of Singapore and a fellow CPA of Australia with over 27 years of financial and operational management experience.John Slosar, who took up the position as interim CEO, will now step down but will continue his role as non-executive chairman.Slosar said: “I know Peter and Stephane well and have great confidence in them. They bring the right balance of familiarity with the company, fresh perspective and expertise needed to help lead PureCircle to new heights of innovation, customer partnership and growth.”