Bunge Limited Announces Management Transition at Bunge North America
April 9, 2013 - White Plains, New York - Bunge Limited (NYSE: BG), ), a global agribusiness and food company, today announced the appointment of Todd Bastean to the position of CEO, Bunge North America, effective June 1. Mr. Bastean, currently CFO, Bunge North America, succeeds Soren Schroder, who will become CEO of Bunge Limited on the same date. Mr. Schroder will assume the role of CEO from Alberto Weisser, who earlier this year announced his retirement after 15 years leading the company.
"Todd has been instrumental to Bunge North America's growth and success for nearly 20 years," stated Alberto Weisser, Chairman and CEO, Bunge Limited. "He knows our North American business inside and out, having served as CFO, as a manager of key operations and in a variety of functional roles. I am confident that Todd will be an effective leader of this important part of Bunge's business and a valuable member of the company's global management team."
Mr. Bastean started his career at Bunge in 1994 and became CFO of Bunge North America in 2010. Before assuming that role he served as vice president & general manager of the operating company's milling and biofuels business units, and as vice president and chief administrative officer of its grain and milling business units. He also held positions in strategic planning and auditing. Prior to joining Bunge he worked for KPMG Peat Marwick. Mr. Bastean holds a B.S. degree in accounting from Western Illinois University.
About Bunge North America
Bunge North America (www.bungenorthamerica.com), the North American operating arm of Bunge Limited (NYSE: BG), is a vertically integrated food and feed ingredient company, supplying raw and processed agricultural commodities and specialized food ingredients to a wide range of customers in the animal feed, food processor, foodservice and bakery industries. With headquarters in St. Louis, Missouri, Bunge North America and its subsidiaries operate grain elevators, oilseed processing plants, edible oil refineries and packaging facilities, and corn, wheat and rice mills in the U.S., Canada and Mexico.
About Bunge Limited
Bunge Limited (www.bunge.com, NYSE: BG) is a leading global agribusiness and food company operating in over 40 countries with approximately 35,000 employees. Bunge buys, sells, stores and transports oilseeds and grains to serve customers worldwide; processes oilseeds to make protein meal for animal feed and edible oil products for commercial customers and consumers; produces sugar and ethanol from sugarcane; mills wheat, corn and rice to make ingredients used by food companies; and sells fertilizer in South America. Founded in 1818, the company is headquartered in White Plains, New York.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains both historical and forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are not based on historical facts, but rather reflect our current expectations and projections about our future results, performance, prospects and opportunities. We have tried to identify these forward-looking statements by using words including “may,” “will,” “should,” “could,” “expect,” “anticipate,” “believe,” “plan,” “intend,” “estimate,” “continue” and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. The following important factors, among others, could affect our business and financial performance: industry conditions, including fluctuations in supply, demand and prices for agricultural commodities and other raw materials and products used in our business; fluctuations in energy and freight costs and competitive developments in our industries; the effects of weather conditions and the outbreak of crop and animal disease on our business; global and regional agricultural, economic, financial and commodities market, political, social and health conditions; the outcome of pending regulatory and legal proceedings; our ability to complete, integrate and benefit from acquisitions, dispositions, joint ventures and strategic alliances, including the closing of the transaction discussed in this press release; our ability to achieve the efficiencies, savings and other benefits anticipated from our cost reduction, margin improvement and other business optimization initiatives; changes in government policies, laws and regulations affecting our business, including agricultural and trade policies, tax regulations and biofuels legislation; and other factors affecting our business generally. The forward-looking statements included in this release are made only as of the date of this release, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.
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