Treatt said David Shannon informed the board of his intention to leave the top job of chief executive and as a director of the company by 31 December 2025.
The news comes only weeks after a recommended deal for private equity company Natara to purchase the company was rejected by shareholders. The total percentage of votes in favour of the deal was below the minimum threshold of 75% of shares needed for approval.
The board said it has initiated a formal search process to identify and appoint a new chief executive. It said it is focused on securing the right long-term leadership for the next phase of the company’s development. The leadership team will work with Shannon on a smooth handover in the coming weeks.
Vijay Thakrar, chair, said: "On behalf of the board, I would like to thank David for his contribution to the business and wish him success in his future endeavours."
In September, Treatt agreed to sell up to rival firm Natara in a deal worth £156.6 million. Under the terms of the deal Treatt shareholders were to receive 260p on cash per share. The deal was unanimously recommended by the Treat board.
By 6 October 2025, the boards of Treatt and Natara announced that they had reached agreement on the terms of an increased recommended cash offer at a price of 290 pence in cash for each Treatt Share. Despite this, the deal was rejected.
Earlier this month, Treatt also announced that Bronagh Kennedy was to step down as a non-executive director at the end of her three-year term, so she could devote more time to her other board roles. This change will take effect on 31 January 2026.
Commenting, Thakrar said: "I would like to express our thanks to Bronagh for her contribution to the Board and Treatt Group and for her work as Chair of the Remuneration Committee since January 2023. We wish Bronagh well for the future."
The appointment of a new non-executive director is in process.
