US agri giant Bunge has promoted deputy chairman Patrick Lupo to the role of chairman.

Lupo will take the job on 1 January, succeeding executive chairman Alberto Weisser, who is retiring from the business.

Weisser became executive chairman in June after stepping down as CEO as part of his retirement plans. Soren Schroder, the head of Bunge's North American operations, became chief executive.

Lupo has been a member of Bunge's board since 2006 and serves as deputy chairman, lead independent director and chairman of the Compensation Committee. He is the former chairman and CEO of DHL Worldwide Express.