Ingredion Signals Its Strategic Commitment with Its Name
On February 14th, Ingredion Incorporated CEO and Chairman Ilene Gordon addressed the Executive Club of Chicago and shared the story of how she has driven transformational growth for the company. Ingredion is a leading global ingredient solution provider, with sales of $6.5 billion in 2012.
It’s my belief that the Ingredion success story is one that many B2B organizations would benefit from looking into.
One important component of the success story was the 2010 acquisition of National Starch, and the subsequent successful integration of its $1.3B business within Ingredion.
Another important strategic action is the company name, Ingredion. In May 2012, Ingredion stockholders approved changing the firm’s name from Corn Products International to Ingredion. The name change is being implemented in a careful, phased fashion with all countries and regions transitioning to the new name by the end of this year, 2013. Here’s how Gordon described the change:
“We are thrilled to face the marketplace with a name that says ‘ingredient solutions.’ We’re proud of our legacy in providing consistently high-quality ingredients to our many customers and helping them succeed in new realms with innovations they can get nowhere else. We will continue to build our expertise and ingredient solutions portfolio to help our customers address trends and compete better around the world.”
The impact of the name change is that every time Ingredion’s customers, employees, stockholders or suppliers see or hear the brand name, they are reminded that the firm is focused on ingredient solutions and that they can expect more innovation from the firm. A meaningful brand name that speaks to the benefit is one of the most powerful B2B (and B2C) marketing and branding approaches available. So, is your brand, product, or company name pulling its weight?