Kerry Group has appointed Edmond Scanlon as the company's CEO. He will be succeeding Stan McCarthy who is set to retire as he turns 60 in September.
According to the Irish Times, Scanlon began in the company’s graduate program 21 years ago, where he eventually became the chief executive of Kerry Asia Pacific in 2014 and then led the regional headquarters in Singapore.
Growing the Asia Pacific Market
Under Scanlon’s leadership in the Asia Pacific market, business volumes improved by approximately 11%. Emerging markets also expanded from 19% in 2008 to 26%.
The Asia Pacific unit has agreed to spend €83 million on two flavor and fragrance deals in China and Australia, with the possibility of more deals in the same region in the future. Currently, McCarthy is planning to spend €1 billion on acquisitions this year prior to his retirement. Under his leadership, group sales have grown 27% while the value of the group has surged to more than 335%.
