08 May 2019 | News
Agribusiness will be organized under three of the company's most experienced executives to better leverage their skills and capabilities.
Bunge Limited, a leader in agriculture, food and ingredients, 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.
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.