MacLennan Elected Cargill's New CEO

MINNEAPOLISCargills board of directors has elected David W. MacLennan as its new chief executive officer effective Dec. 1, suceeding Gregory R. Page who will serve as executive chairman. MacLennan is currently Cargills president and chief operating officer, and will retain the title of president and continue as a director of the company.

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 Cargills president and chief operating officer in 2011. In 2008, he was named Cargills chief financial officer and elected to the Cargill board of directors.

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.

The Cargill board of directors also elected Emery N. Koenig as a vice chairman of the company. Koenig continues to serve as Cargills chief risk officer. Since joining Cargill in 1978, Koenig has worked in a variety of commodity trading and risk management roles in the United States and Switzerland. Paul D. Conway will continue as a vice chairman of the company.

Other recent company developments include the recent acquisition of Joe White Maltings and a joint venture in Saudi Arabia with Arasco to develop sweeteners and starches.