COFCO splits oilseeds and grains unit, appoints new management team
March 21, 2018
China’s state-owned food processing firm COFCO International has appointed several new corporate heads and split its business units in a reshuffle of its global oilseeds and grains operations.
COFCO’s oilseeds and grains business would now function as two separate divisions, with soyabean, meal, vegetable oil and softseeds product lines managed by global head of oilseeds, Marcelo Martins, previous managing director for the EMEA region, reported World Grain on 6 March.
New global head of grains Paul Bateson, joining COFCO from Bunge, would oversee the wheat, barley and corn product lines.
COFCO’s previous global head of grains and oilseeds, Selina Yang, would take on the newly established role of chief operating office, working to ensure coordination between COFCO’s product lines and its seven key regions and freight.
COFCO also announced the launch of a new global asset management unit, based in São Paulo, Brazil, and led by Valmor Schaffer, newly appointed managing director of the unit.
“2017 was a year of integration, in which we worked hard to build a strong foundation for our business. We now begin 2018 with a solid organisational structure that reflects our priorities as a business and brings the right set of skills and experience to lead our development and growth for years to come,” said COFCO CEO Johnny Chi.
COFCO is active in logistics and commodity markets across the globe in 35 countries, shipping more than 100M tonnes of products globally in 2016.