Singapore-based agricultural group Olam International has announced the resignation of its CFO Krishnan Ravi Kumar.
Kumar, who is leaving to “pursue a new career outside the agri-commodity sector”, will be replaced by Shekhar Anantharaman in the new and enhanced role of executive director – finance & business development.
The announcement appears to hint at a possibility Olam could be on the look out for further acquisitions and follows a number of announcements by the firm in the last few months.
The company has been rather active in M&A with the formation of a joint venture with US commodities group Lansing Trade Group last week and the acquisition of Nigerian dairy group Kayass Enterprises earlier this month.
The latter deal forms part of the company’s strategy to leverage its “strong” African footprint and follows a deal earlier this year, also in Nigeria, of biscuit and confectionery firm Titanium Holding Co.