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Bunge announces new global operating model and business leadership structureqrcode

May. 9, 2019

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May. 9, 2019
Bunge Limited (NYSE: BG), a leader in agriculture, food and ingredients, recently announced a new, global operating model, aligned with the company's commercial activities: handling and processing, managing physical product flows, and risk management and optimization.

"Shifting away from our regional, matrix-based structure will simplify the organization and speed up decision making, increasing our strategic flexibility, customer focus and accountability," said Bunge Chief Executive Officer Gregory A. Heckman. "These changes support our strategic priorities: driving operational performance, optimizing the portfolio and strengthening financial discipline."

As a result of the realignment, Bunge is making the following changes to its senior leadership team, with immediate effect.

Agribusiness will be organized under three of the company's most experienced executives to better leverage their skills and capabilities. They will work closely together to manage these operations and capitalize on the opportunities offered by the company's physical, financial, and information flows.

Raul Padilla, President, South America and Sugar & Bioenergy, becomes President, Global Operations. In this role, Raul will manage all physical handling and processing assets, with particular focus on the processing value chains, including Milling. He will continue to lead Sugar & Bioenergy.

Christos Dimopoulos, President, Agribusiness, becomes President, Global Supply Chains. In this role, he will lead the physical commodity supply chains that support Bunge's handling and processing assets. He will also be responsible for trade flows, freight and distribution, serving Bunge and other customers.

Brian Zachman, President, Global Risk Management, continues in this role, working to improve returns while reducing volatility across the company.

Bunge remains committed to growing its Food & Ingredients business through new product development and continued capture of synergies from the Loders Croklaan acquisition. To help achieve this goal, Aaron Buettner, Senior Vice President of Bunge Loders Croklaan, will continue in his current role and will now report directly to Mr. Heckman. Specialty oils are the highest value products in Bunge's portfolio, and the unit will benefit from this additional management focus and oversight.

Pierre Mauger, President, Europe and Asia, will transition to the role of Chief Transformation Officer, responsible for portfolio optimization and strategy, building on his prior experience as Bunge's Chief Development Officer.

Todd Bastean, President, North America, and Gordon Hardie, President, Food & Ingredients, will both retire from Bunge after a transition period. "I want to thank Todd and Gordon for their many contributions and dedication to Bunge," Mr. Heckman said. "We appreciate their support in ensuring a seamless transition for customers and employees."

"We are fortunate to have talented leaders with proven track records," Mr. Heckman continued. "I look forward to working with them as we continue to position Bunge for the future."

Source: Bunge

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