World Grain - May 2014 - 16

newsreview
Louis Dreyfus searching for new CEO
ROTTERDAM, NETHERLANDS - Louis Dreyfus Commodities announced on April 25 that Chief Executive Officer (CEO)
Ciro Echesortu has asked to "step back" from his current role,
effective June 1.
Echesortu started as CEO in June 2013. The Supervisory Board of
Louis Dreyfus Commodities Holdings, now recomposed following
the recent addition of three new members, is launching the search for
a successor to the CEO.
"One year ago, we agreed with Ciro Echesortu to begin a transition under his leadership, aiming to adapt our strategy and accelerate the Group's transformation, in order to reinforce our leading
position in the industry," said Margarita Louis-Dreyfus, chairperson of Louis Dreyfus Holding. "Thanks to our solid performance
in 2013, the conditions are now right to implement a longer-term
solution and the Supervisory Board has therefore initiated an active search process for the new CEO. Ciro has asked to step back
from his current role and will focus on reinforcing and adapting the
company's strategy through the next stage of the transition period.
Ciro has been instrumental in our success for many years, and I
would like to thank him for this great achievement and for having
supported the evolution of our management structure in the past
year very effectively."
Claude Ehlinger, chief financial officer of Louis Dreyfus Commodities and non-executive chairman of the board of Biosev, has

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been appointed interim chief executive officer of the Louis Dreyfus Commodities Group, effective June 1, 2014. Ehlinger's tenure
as CEO will continue until a successor has been identified and appointed, at which point he will resume his existing responsibilities.
Echesortu will remain with the company in an advisory capacity as
head of strategy, focusing on strategic commercial matters and supporting Ehlinger on specific portfolio risk management as he transitions into his additional role.
"I know we can count on Claude's extensive expertise, integrity
and intimate knowledge of the group in the interim, as well as on the
support and contributions of both Ciro and the board," said Margarita
Louis-Dreyfus.
"It has been an honor and a pleasure to lead Louis Dreyfus Commodities through an important transition in its management and
governance functions over the past year. Claude is well placed to
take over where I left off, ensuring the continuation of the process,"
said Echesortu.
Ehlinger joined the group in 2007 after serving three years as
chief financial officer at Eutelsat. Prior to this he was chief financial
officer of Cap Gemini's Central and Southern European operations,
chief financial officer of CCMX and group managing director of
Finacor, a large brokerage company in Europe. He began his career
in 1985 at Thomson Group. He is a graduate of the French business
school HEC.

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May 2014 / World Grain / www.World-Grain.com

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World Grain - May 2014

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