Cargill Inc. CEO David MacLennan, 56, has been elected chairman of the company,
Bloomberg reported.
MacLennan succeeds Greg Page, his predecessor as CEO, who will remain on the board as an executive director, the article saif.
MacLennan joined Cargill in 1991. In 2000, he left to become president of fixed-income capital markets at U.S. Bancorp Piper Jaffray; he returned to Cargill in 2001. In 2008, he was named Cargill's CFO; in 2011, he was elevated to president and COO. He has served as the company's CEO since 2013.
In August, Cargill reported its first quarterly loss in 14 years. “MacLennan is stepping up as chairman at a time of slumping commodity prices and weakness in emerging markets, where the company has made significant investments in recent years,” the Bloomberg article said. (Source: Bloomberg, Sept. 10, 2015.)
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