Corn Products International to be renamed Ingredion
Corn Products International, Westchester, Ill., says that it intends to change its name to Ingredion, pending shareholder approval at its annual meeting in May. The company says the name change signifies its role as a global ingredients solutions company.
Building on the company’s legacy of performance and innovation, Corn Products says the new name was conceived to better reflect its position as a leading global supplier of ingredient solutions to a range of industries, including packaged food, beverage and brewing. The name change is part of a global strategy that included the acquisition of National Starch in late 2010.
“We are very excited to announce our new name and identity,” says Ilene Gordon, chairman, president and chief executive officer. “The first part of the name represents ‘ingredients,’ while the second part has its roots in the Greek word that means ‘something that goes.’ It says clearly that we’re an ingredient solutions company.”
Gordon adds that the goal is to anticipate and deliver what customers need for today and tomorrow. “We provide consistently high-quality ingredients for today’s products as well as the cutting-edge innovations our customers need to create profitable new products tomorrow,” she says. “Ingredion encompasses the diversity and growth of our product offerings. It also honors the long-standing Values that have contributed to our success while being more representative of the stronger, global company we have become.”
The name change 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. Although legal entities outside of Corn Products International are not expected to change their legal names, the company anticipates a global transition to our new global brand and logo within the next two years, with all geographies using the Ingredion brand by the end of 2013.