ED&F Man, the UK-based multinational trader of agricultural commodities and financial services, has appointed Chris Mahoney as non-executive chairman, effective from this week.
Mr Mahoney has four decades of experience in agricultural commodity processing, handling and trading, including 17 years at Cargill and then Glencore Agriculture, where he was chief executive for 17 years until leaving the company in June 2019.
He oversaw the 2016 sale of an equity stake in Glencore Agri to Canadian investors, which eventually led to last years’ rebranding of the business as Viterra.
ED&F Man says the appointment follows its decision to return to the traditional governance structure separating the roles of chairman and chief executive, with Rafael Muguiro now holding the latter posts. This will enable him to concentrate on implementing the Group’s strategic plan to focus on its core trading activities after recent losses.
“We look forward to benefiting from the deep experience and knowledge Chris he brings,” notes Mr Muguiro. “His contributions as chairman will be very welcome as we continue to move forward in this new chapter in our history, against a challenging external environment, but also in the context of a more stable financial position following our refinancing completed last September.”