WHITE PLAINS, N.Y.,
Dec. 10, 2018 /PRNewswire/ -- Bunge
Limited (NYSE: BG), a leader in agriculture, food and ingredients,
today announced that its Chief Executive Officer Soren Schroder will step down. To ensure a
smooth leadership transition, Mr. Schroder, who has served as CEO
since 2013, will continue in his current role until a successor is
named. The Board has established a search committee to identify the
company's next CEO.
In addition, Kathleen Hyle, who
has served on Bunge's Board of Directors since 2012, will become
Chair of the Board, effective immediately. L. Patrick Lupo, who has served on Bunge's Board
since 2006 and in the role of Chairman since 2014, will remain a
board member. Ms. Hyle will serve on the CEO search committee,
along with board members Paul
Fribourg, J. Erik Fyrwald and
Mark Zenuk.
"It has been an honor to serve as Bunge's CEO," said
Soren Schroder. "We are making solid
progress, and it is the right time to turn over the leadership
reins. The company has a strong legacy and an exciting future
ahead."
Mr. Schroder, 57, joined Bunge in 2000 and has held a variety of
agribusiness leadership roles, including CEO of Bunge North America. His tenure has included a
significant strengthening of Bunge's core activities in
agribusiness and growth in food and ingredients, notably with the
recent acquisition of Loders Croklaan. Mr. Schroder has focused on
creating a simpler, more efficient organization, establishing a
series of global partnerships, building a first-class team and
increasing Bunge's focus on customers.
"I am very pleased to become Chair of Bunge's Board of
Directors," said Kathleen Hyle,
Chair, Bunge Limited. "The company
is well positioned for long-term growth with the strong foundation
that has been established under Soren's leadership. We have a
world-class global position in agribusiness and food and
ingredients, and, with our excellent management team, we will
continue to strengthen and evolve our business. I want to thank Pat
for his tremendous contributions to Bunge over the course of many
years and his leadership as Board Chairman."
Ms. Hyle, 60, has served as the head of the Audit Committee for
the Bunge Board of Directors for the past five years. She has also
served as Senior Vice President of Constellation Energy and COO of
Constellation Energy Resources from 2008 until her retirement in
2012, when Constellation completed its merger with Exelon Corp. Ms.
Hyle joined the company in 2003, and served in a variety of
senior-level finance and operations positions, including as Chief
Financial Officer of Constellation New Energy, Inc.
Previously, Ms. Hyle served as CFO of ANC Rental Corp., the
parent company of Alamo Rent-A-Car and National Rent-A-Car; Vice
President and Treasurer of Auto Nation, Inc.; and Vice President
and Treasurer of The Black & Decker Corp. Ms. Hyle is currently
a Director of AmerisourceBergen Corporation and is a former
Director of The ADT Corporation.
Website Information
We routinely post important information for investors on our
website, www.bunge.com, in the "Investors" section. We may use this
website as a means of disclosing material, non-public information
and for complying with our disclosure obligations under Regulation
FD. Accordingly, investors should monitor the Investors section of
our website, in addition to following our press
releases, SEC filings, public conference calls,
presentations and webcasts. The information contained on, or that
may be accessed through, our website is not incorporated by
reference into, and is not a part of, this document.
About Bunge Limited
Bunge Limited (www.bunge.com, NYSE: BG) is a leading global
agribusiness and food company operating in over 40 countries with
approximately 32,000 employees. Bunge buys, sells, stores and
transports oilseeds and grains to serve customers worldwide;
processes oilseeds to make protein meal for animal feed and edible
oil products for commercial customers and consumers; produces sugar
and ethanol from sugarcane; mills wheat, corn and rice to make
ingredients used by food companies; and sells fertilizer in South
America. Founded in 1818, the company is headquartered in
White Plains, New York.
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains both historical and forward-looking
statements. All statements, other than statements of historical
fact are, or may be deemed to be, forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements are not based on
historical facts, but rather reflect our current expectations and
projections about our future results, performance, prospects and
opportunities. We have tried to identify these forward-looking
statements by using words including "may," "will," "should,"
"could," "expect," "anticipate," "believe," "plan," "intend,"
"estimate," "continue" and similar expressions. These
forward-looking statements are subject to a number of risks,
uncertainties and other factors that could cause our actual
results, performance, prospects or opportunities to differ
materially from those expressed in, or implied by, these
forward-looking statements. The following important factors, among
others, could affect our business and financial performance:
industry conditions, including fluctuations in supply, demand and
prices for agricultural commodities and other raw materials and
products used in our business; fluctuations in energy and freight
costs and competitive developments in our industries; the effects
of weather conditions and the outbreak of crop and animal disease
on our business; global and regional agricultural, economic,
financial and commodities market, political, social and health
conditions; the outcome of pending regulatory and legal
proceedings; our ability to complete, integrate and benefit from
acquisitions, dispositions, joint ventures and strategic alliances;
our ability to achieve the efficiencies, savings and other benefits
anticipated from our cost reduction, margin improvement and other
business optimization initiatives; changes in government policies,
laws and regulations affecting our business, including agricultural
and trade policies, tax regulations and biofuels legislation; and
other factors affecting our business generally. The forward-looking
statements included in this release are made only as of the date of
this release, and except as otherwise required by federal
securities law, we do not have any obligation to publicly update or
revise any forward-looking statements to reflect subsequent events
or circumstances.
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SOURCE Bunge Limited