Post by Olam

Following our 5th Annual General Meeting, today marks a significant moment for Olam Group (OGL) and its planned leadership transition. The Group has achieved much progress in its Re-organisation Plan – from carving out into three operating groups, to crystallising value for shareholders – under the esteemed leadership of Chairman, Mr Lim Ah Doo, Co-Founder, Executive Director and Group CEO, Mr Sunny Verghese, and Group CFO, Mr Neelamani MuthuKumar. Chairman Lim Ah Doo steps down today from OGL as he completes his 9-year tenure on the Board. Deputy Chairman Mr Yap Chee Keong, also Chair of Board Exco and Board Risk Committee, assumes the role of Chairman, bringing deep experience and familiarity with the Group's strategy. Mr Verghese steps down from OGL today and moves full time to his continuing role as CEO of Olam Agri. Mr Muthukumar also steps down today and moves full time to his continuing role as COO of Olam Agri. The planned leadership transition in OGL is primarily driven by the transformative deal with SALIC for the 100% sale of Olam Agri at an attractive valuation – the leadership moves reflect strong validation and value of Olam Agri’s differentiated business model, underlying consistent performance and the quality of the management team. These moves are an integral requirement of the sale of Olam Agri. Mr Verghese and Mr Muthukumar, along with the Olam Agri leadership team, will focus fully on the next chapter of growth and value creation for Olam Agri under SALIC’s ownership. As they step down today, we would like to thank Mr Lim Ah Doo for his stewardship in the past 9 years, where he played a crucial role in our Re-organisation Plan. Our deepest gratitude goes out to our Co-Founder Mr Verghese, for 37 years of extraordinary leadership in building Olam Group into a respected global agri-food leader with a lasting positive impact on our industry and the communities we serve. We also thank Mr Muthukumar after nearly 29 years of service, during which he played an instrumental role in advancing the Group’s strategic goals and navigating Olam through a defining period of transformation. Mr Venkataraman Krishnan joins as Group CFO, bringing close to two decades of institutional knowledge and financial leadership to steer the Group's financial strategy. Together with our refreshed leadership team, the Board remains fully committed to executing the Re-organisation Plan and crystallising value for shareholders. #OlamGroup