Last Wednesday, the CEO of Agribusiness Cargill Inc announced he would be stepping down after six years. Gregory Page would be replaced by current President and CEO David MacLennan in a change called as 'the result of the company's ongoing succession planning with the board.'
Cargill, which is based out Minneapolis, MN, is one of the largest privately held corporations and one of the leading commodities traders in the world. The firm recently reported USD2.31 billion in earnings for its fiscal year ending on May 31. A year ago, the firm reported a USD1.17 billion earnings for the fiscal year.
Agribusiness Cargill is one of the largest grain exporters in the United States and is one of the so-called 'ABCD' companies that dominate the trade of agricultural goods in the globe. The 'C' is for Cargill, while 'A' is for Archer Daniels Midland Co, 'B' is for Bunge Ltd and 'D' is for Louis Dreyfus Corp.
Page worked for Cargill in the last 39 years and would be appointed the company's executive chairman. In this capacity, he wouldm according to an issued statement from Cargill, 'continue to lead the board and would represent the company in a variety of interactions and public forums with customers, policymakers and others and will be available as a resource to the company.'
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