This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Bunge Announces CEO Succession

WHITE PLAINS, N.Y., Feb. 7, 2013 /PRNewswire/ -- Bunge Limited (NYSE: BG) today announced that Alberto Weisser will retire as chief executive officer (CEO) effective June 1, 2013.  The board of directors has appointed Soren Schroder, currently CEO of Bunge North America, to succeed Mr. Weisser as CEO of the company, and expects Mr. Schroder to become a director before June 1.  The board also appointed Mr. Weisser as executive chairman, serving until December 31, 2013.

"Alberto has guided Bunge through one of the most significant and successful eras in its nearly 200-year history," stated L. Patrick Lupo, deputy chairman and lead independent director, Bunge Limited.  "Under his leadership, Bunge became a public company and grew from a regional operation to a global player, active in over 40 countries and with leading positions in key products and markets.  Most importantly, however, Alberto helped instill the culture and approach that form the foundation of the company, and developed the talented team that is responsible for its success.  We thank Alberto for his tremendous contributions to Bunge.  We are fortunate to have a successor in Soren who can step into this role and ensure the business continues its strong momentum."

Mr. Weisser joined Bunge in 1993 as chief financial officer.  He was appointed CEO in January 1999 and chairman in July 1999.  Bunge listed its shares on the New York Stock Exchange in August 2001.  Since its listing, the company's enterprise value has increased over 5.5 times, its stock price has increased by nearly 500% and total shareholder returns have averaged 16.4% per year[1].

"Soren is a proven leader, and has been instrumental to Bunge's growth and success since he joined the company in 2000," stated Mr. Weisser.  "He helped build our global agribusiness marketing and trading operation, developed our agribusiness franchise in Europe and the Middle East, and as CEO of Bunge North America since 2010, has managed our complete value chain, including agribusiness, edible oils and milling, in a key region.  In addition to an excellent track record as a commercial and operational manager, Soren possesses unparalleled industry expertise, market insight and understanding of our customers' needs.  He lives and breathes this business, having spent his entire professional life in the agribusiness and food sector.  His appointment is the culmination of a thoughtful and deliberate succession planning process."

As CEO of Bunge North America, Mr. Schroder leads Bunge's business operations in the United States, Canada and Mexico. Since joining Bunge, he has served in a variety of agribusiness leadership roles at the company, including as protein director, Bunge Global Markets, based in White Plains, NY; managing director, Europe for Bunge Global Markets; and vice president, agribusiness for Bunge Europe.  Prior to joining Bunge, he worked for over 15 years at Continental Grain and Cargill, in positions in Europe and North America.

"It is an honor to have the opportunity to build on the exceptional foundation Alberto has established and to lead Bunge's talented team," stated Mr. Schroder.  "What we do has never been more important to the world, and there are tremendous opportunities to grow the business, create value for shareholders and deliver for our customers.  I look forward to a smooth and productive transition with Alberto as executive chairman."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs