- Simplifying organization from five operating companies to three regions
- New structure will streamline organization, further leverage global scale and increase focus on customers and growth
WHITE PLAINS, NY – Nov 15, 2017 – As part of its ongoing Competitiveness Program, Bunge Limited (NYSE: BG) today announced organizational and leadership changes designed to streamline its operating model, further leverage its global scale and increase its focus on customers and growth.
In simplifying its structure from five operating companies to three regions – North America, South America and Europe/Asia – Bunge announced the following executive leadership appointments, effective January 1, 2018:
- Todd Bastean – President - North America.
- Pierre Mauger – President - Europe and Asia.
- Raul Padilla – President - South America and Sugar & Bioenergy.
All three executives will report to Soren Schroder, CEO of Bunge Limited.
The three operating regions will be supported by centralized global corporate functions, including Finance, HR, IT and Legal. Global heads of Agribusiness, Food & Ingredients and Sugar & Bioenergy business segments will lead strategy, value chain maximization, cross regional customer relationships and risk management. The following executives remain members of the Company’s Executive Committee:
- Thomas Boehlert, Executive Vice President and Chief Financial Officer.
- Deborah Borg, Executive Vice President and Chief HR and Communications Officer.
- Gordon Hardie, President, Food & Ingredients.
- David Kabbes, Executive Vice President Corporate Affairs and Chief Legal Officer.
- Brian Thomsen, President, Agribusiness.
Soren Schroder said, “This new structure allows us to leverage our scale while remaining close to customers and local market opportunities. The proven executives who will lead our regions and segments will work together with our global functional leaders to achieve the objectives of the Competitiveness Program, including removing operational complexity, reducing costs, and maximizing shareholder value.”
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.