US-based agribusiness Bunge has announced that John E. Klein, president and CEO of Bunge North America, it to step down on 31 December, after 28 years with the company.

Klein, who spent 19 years as CEO of Bunge North America, is to be replaced by Carl Hausmann, the current CEO of Bunge Europe. Klein will continue to serve Bunge in the capacity of non-executive chairman of Bunge North America.

Hausmann will be succeeded by Jean-Louis Gourbin, who joins Bunge from French dairy group Danone. These new executive appointments will go into effect in January 2004, Bunge said.