Cargill CEO Staley to retire |
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Tue, 06 Feb 2007 23:19
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WAYZATA, Minn. (AFX) - Food ingredient and agribusiness powerhouse Cargill Inc. said Chief Executive Warren Staley would retire June 1 after reaching the company's mandatory retirement age of 65 for executives.Staley will be replaced by Gregory Page, 55, who has been Cargill president and chief operating officer since 2000.The privately held company said Staley would stay as chairman until its annual meeting on Sept. 11.Page joined Cargill in 1974 as a trainee, and worked in the company's U.S. animal nutrition business before transferring to Singapore in 1985 to run the company's animal nutrition operations in Asia. He returned to the U.S. in 1992 and began running Cargill's North American and Australian beef and pork operations in 1995.Staley became Cargill president in 1998, CEO in 1999 and chairman in 2000. He has worked at Cargill since 1969.'I have worked closely with Greg for the past seven years, and I know he has the capacity to lead Cargill to become an even greater company than it is today,' Staley said in a prepared statement.Wayzata-based Cargill employs 149,000 people in 63 countries.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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