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
Danone has appointed three deputy CEOs to “better connect categories and regions” and drive the delivery of its ‘Renew Danone’ strategy. The new appointees are Veronique Penchienati-Bosetta, Shane Grant and Juergen Esser. They will report to Danone CEO Antoine de Saint-Affrique.
PepsiCo Portugal has announced that it will invest €7.5 million to construct a new biodigester, which will turn organic waste into biogas. As well as helping its Carregado facility to achieve a 30% reduction in carbon emissions, the biodigester will also contribute to reducing gas consumption, allowing the installation to use the biogas produced during the anaerobic digestion process.
Kerry is sponsoring The Kerry Upcycled Food Foundation Fellowship in a new partnership with the Upcycled Food Foundation (UFF), the non-profit subsidiary of the Upcycled Food Association (UFA). The research fellowship is the second initiated by the UFF and will work toward advancing the understanding of the market, consumer perception and technical opportunities of upcycled food.
