Cargill elects David MacLennan as CEO

Cargill, an international producer and marketer of food, agricultural, financial and industrial products has elected David MacLennan, currently Cargill’s President and Chief Operating Officer, as the corporation’s next CEO effective from December 1, 2013, succeeding Gregory R. Page, who will serve as Executive Chairman. MacLennan will retain the title of President and continue as a Director of the company. The transition is the result of the company’s ongoing succession planning with the board.

“Over the past several years, I have had the opportunity to work closely with David, especially in his roles as Chief Financial Officer and Chief Operating Officer, and I have been impressed with his leadership, his vision, and the breadth and depth of his knowledge and experience. This is a dynamic and diverse global company. We are excited about the opportunities ahead and have the highest confidence in David to deliver on that promise,” said Page.

MacLennan joined Cargill in 1991 and has held various leadership positions within the financial, risk management, energy, and animal protein businesses in the United States, London, and Geneva. He was elected Cargill’s President and Chief Operating Officer in 2011. In 2008, he was named Cargill’s Chief Financial Officer and elected to the Cargill Board of Directors. Prior to joining Cargill, MacLennan was a Senior Vice President with LIT America in Chicago, Ill., and served as President of Fixed Income Capital Markets at U.S. Bancorp Piper Jaffray in Minneapolis, Minn.

In his role as Executive Chairman, Page will continue to lead the board and will 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.