WESTCHESTER, ILL. — Ingredion, Inc. has unveiled plans to realign its business structure beginning in the first quarter of 2024. As part of the realignment, Ingredion said it will transition from a company organized by regions to one organized by production assets and commercial efforts. Currently, the company’s reporting segments are North America, South America, Asia-Pacific and EMEA (Europe, Middle East, and Africa).
Ingredion said it plans to serve customers with a global focus on texture and healthful solutions and will continue to provide food and industrial ingredients to local markets.
“As we continue to execute against our growth roadmap while pursuing our broader business transformation, this reorganization will better reflect and enable the strategic value drivers of our business,” said James P. Zallie, president and chief executive officer of Ingredion. “The new structure will allow for greater transparency into our product capabilities, improve our focus on growing market opportunities and serving customers, and provide greater insight to financial stakeholders.”The reorganization will result in a change to the company’s financial reporting segments beginning in the first quarter of 2024, the company said.