Global grains trader Bunge Ltd, which has been under pressure from activist investors, said on Monday Chief Executive Officer Soren Schroder would step down.
Schroder, who served as CEO since 2013, will continue in his current role until a successor is named, the company said in a statement.
Investors D.E. Shaw and Continental Grain have urged Bunge to expand its board, following which the company appointed the CEO of agrichemicals company Syngenta to its board.
The company has been grappling with low crop prices and the trade war that has slashed U.S. crop exports to China. Bunge was also the target of failed takeover bids rivals Archer Daniels Midland Co and commodities trader Glencore.
The grains trader also appointed Kathleen Hyle, who has served on the company’s board since 2012, as chairman, effective immediately. Hyle will be part of the search committee created to appoint a new CEO.
By Shanti S Nair
Source: Reuters
After eight years with Nestlé, François-Xavier Roger, executive vice president and chief financial officer (CFO), has decided to leave the company to pursue new professional challenges, making way for finance boss Anna Manz. Meanwhile, Unilever announced that Graeme Pitkethly, CFO, will retire by the end of May 2024, and the hunt is on for his successor.
International spirits company Bacardi Limited has announced the appointment of Alicia Enciso to its board of directors. Enciso joins with more than 30 years of experience with multinational Fortune 100 Companies in the food and beverage sector with roles as general manager, president, chief marketing officer and e-business officer.
According to Innova Market Insights, when it comes to beverages, consumers are willing to pay more for what they value most, despite rising inflation. Additionally, consumers want brands that respond to their core values and have the benefits they seek, such as sustainability and functional ingredients.
