US: Cargill CFO Rial to leave business
Cargill looking for permanent replacement
Cargill CFO Sergio Rial is to leave the US agribusiness giant at the end of the month, the company announced today (2 November).
Rial is returning to his native Brazil for "personal reasons", Cargill said. David MacLennan, the group's president and COO will take on the CFO role on an interim basis until a permanent replacement is found. MacLennan was Cargill CFO between 2008 and 2011.
Rial joined Cargill in 2004 when he took a role within the company's group of food businesses. He accepted a position in Cargill's financial services team in 2009.
Last month, Cargill reported a quadrupling in its first-quarter profits, boosted by higher demand for its services due to a drop in yields resulting from poor weather, particularly in the US.
In its last financial year, Cargill's profits fell 56% as volatile commodity markets and a downturn in the North American beef sector hit earnings.
Last month also saw Cargill sell its cultures and enzymes business to Dutch ingredients giant DSM.
Original source: Cargill
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