US agribusiness giant Cargill today (7 December) confirmed that it has replaced Jonathan Drake, the head of its sugar business.
It said, as of yesterday, it had replaced Drake with Ivo Sarjanovic, who was previously the head of Cargill’s grain and oilseed business in the Middle East and Africa. A company statement gave no reason for Drake’s departure and refused to comment further on the matter.
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“We can confirm that Jonathan Drake is no longer with Cargill. Jonathan’s departure has led to leadership changes within our global sugar business,” it said.
Johan Steyn, Cargill’s country representative in South Africa, replaces Sarjanovic as head of this business and will remain based in Johannesburg.
The statement added: “Both Ivo and Johan have been with Cargill for many years and have significant expertise in agricultural commodity markets. We are confident they will bring great strengths to our sugar and Middle East and Africa grain and oilseed businesses, respectively.”
On Monday, the company announced it is to cut around 2,000 jobs around the world, citing the “continued weak global economy”. In October it reported a 66% drop in earnings from continuing operations in its first quarter.
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