CPI Changing Name
The new name better reflects the company's position as a leading supplier of starch and sweetener ingredients to a range of industries, including packaged food, beverage and brewing, a release noted.
"We are very excited to announce our new name and identity. Ingredion doesn't represent a change in strategy or a change in the strong business model that we've built. It does, however, better reflect the diversity and growth of our product offerings and is more representative of the stronger, more global company we have become. We have been and will always strive to be an innovative, customer-focused company and our new name and identity support this position," said Ilene Gordon, chairman, president and chief executive officer.
"Over the past 106 years, our company has built a reputation for providing quality ingredients, and we are confident that we will continue this legacy and build on it in the years to come," Gordon added.
The new name is subject to shareholder approval, and a proposal to approve the change will be included in the company's proxy statement for its annual meeting in May, which will be released in early April.
From the February 15, 2012, Prepared Foods' Daily News.