Croda chief not afraid to take on the world

Mike Humphrey was praised for the way he has transformed Goole-based Croda into one of Yorkshire’s biggest listed companies with a market value of £2.41bn, having worked his way up to become chief executive of the firm in 1999.

With just five per cent of sales in the UK, Croda was described as a “great example of a Yorkshire business facing out towards the world” by Bernard Ginns, business editor of the Yorkshire Post, who presented the award.

Croda specialises in natural chemicals for the cosmetics, healthcare and home care industries.

Mr Ginns said that on some measures it is probably the most successful chemical company in the world.

Asked for the secret to his success, Mr Humphrey said: “You have got to focus on growth markets. There’s no point selling to markets that don’t grow. Focus on margins, that’s for my finance director.

“You’ve got to focus on innovation in all that you do and you’ve got to surround yourself with a great team of people, that makes life a lot easier.”

Asked what the best way to deal with the City is, Mr Humphrey responded: “I suppose like all contagious diseases, you should aim for minimal contact.”

On a more serious note, he added the key was “to tell the truth and never, never over promise”.