Cargill CEO MacLennan to Succeed Page as Chairman

Cargill Inc. said Greg Page is stepping down as executive chairman, while President and Chief Executive David W. MacLennan will add the chairman post to his current roles.

Mr. Page, 64 years old, will remain on the agricultural conglomerate's board.

Mr. MacLennan, 56 years old, started with Cargill in 1991. He left in 2000 to join U.S. Bancorp Piper Jaffray and rejoined Cargill in 2002. He has held positions including chief financial officer and chief operating officer, and replaced Mr. Page as CEO in 2013.

Mr. Page joined the company in 1974 as a trainee in its feed division and was Cargill president from 2000 through 2011.

In late July, executives at Cargill's Black River Asset Management LLC decided to close four hedge funds and return more than $1 billion to investors, citing a lack of investor demand.

In August, Cargill agreed to buy Norwegian fish-feed producer EWOS for $1.49 billion, a deal that would give it a leading position in supplying food for salmon and trout farms.

Write to Josh Beckerman at [e-mail]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

September 10, 2015 18:45 ET (22:45 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.