Richard Laube is joining Glanbia's Board

Richard Laube is joining Glanbia's Board
Richard Laube spent six years as worldwide head of Roche Consumer Health

25 February 2019 - Deborah Wilkes

Richard Laube – former worldwide head of Roche Consumer Health – is joining the Board of Irish nutrition firm Glanbia as an independent non-executive director.

Laube, 62, was chief executive officer of Nestlé Nutrition and a member of Nestlé's Executive Board from 2005 until 2010. He was also chief executive officer of Swiss medical device business Nobel Biocare from 2011 until 2016.

He is currently chairman and co-founder of Gnubiotics Sciences and chairman of Piqur Therapeutics.

Laube is one of two independent non-executive directors joining Glanbia's board on 1 May 2019. The other is Mary Minnick, 59, who had a 23-year career with The Coca-Cola Company and is a member of the Board of The Target Company.

Glanbia's financial results

Reporting its financial results for the year ended 29 December 2018, Glanbia said sales by the Performance Nutrition business had risen by 5.2% as reported to EUR1.18 billion (USD1.34 billion), but had increased by 9.5% at constant currencies.

Glanbia said its Performance Nutrition business was the "number one global performance nutrition brand portfolio". Its brands include ABB, Amazing Grass, Body & Fit, BSN, Isopure, Nutramino, Optimum Nutrition and thinkThin.

The Irish company recently paid USD350 million for a portfolio of brands including the SlimFast range of weight-management products and the Healthy Delights and Nu-Therapy lines of vitamins, minerals and supplements (click here to read the News story).

Glanbia's group managing director Siobhán Talbot said the transaction was in line with the firm's strategy of "extending the reach of its Glanbia Performance Nutrition portfolio to related consumer needs".

Performance Nutrition accounted for 49% of Glanbia's sales from its wholly-owned businesses, including its interests in sports nutrition and cheese, which were flat as reported at EUR2.39 billion. On a constant currency basis, sales were up by 4.1%.

Glanbia's Earnings Before Interest, Taxes and Amortisation (EBITA) from its wholly-owned businesses were up by 0.6% as reported, and increased by 5.2% on a constant currency basis, to EUR285 million.

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