US agribusiness group Cargill has promoted its COO David MacLennan to the role of chief executive.

The move, announced today (11 September), will see MacLennan take over the post from 62-year-old Greg Page, who will stay on at the company as executive chairman of the group. Page has been CEO and chairman since 2007.

The move will be effective from 1 December and is part of Cargill’s “ongoing succession planning”, it said.

“This is a dynamic and diverse global company. We are excited about the opportunities ahead and have the highest confidence in David to deliver on that promise,” said Page.

MacLennan joined Cargill in 1991 and has held various leadership positions within the financial, risk management, energy and animal protein businesses in the US, London and Geneva. He was elected Cargill’s president and chief operating officer in 2011. In 2008, he was named Cargill’s CFO and elected to the Cargill board of directors.

Privately-held Cargill also appointed chief risk officer Emery Koenig as vice chairman.