“Our recent performance and the market trends unfolding in front of us have proven a clear and pressing case for change,” Cargill CEO Brian Sikes wrote in a memo sent to staff members.
Starting Sept. 1, the company will consolidate from five business units into three: Food, Ag & Trading and Specialized Portfolio, according to the internal memo. The new Food enterprise will merge the Food and Bio and Protein and Salt teams, while Cargill Risk Management and Metals will be integrated into Ag and Trading. The Specialized Portfolio will focus on Animal Nutrition and Health.
Jon Nash, Roger Watchorn and David Webster will lead the Food, Ag & Trading and Specialized Portfolio units, respectively.
