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Louis Dreyfus picks ex-Barry Callebaut chairman to join board
April 10, 2017 / 2:56 PM / 8 months ago

Louis Dreyfus picks ex-Barry Callebaut chairman to join board

PARIS, April 10 (Reuters) - Global agricultural trader Louis Dreyfus Company has nominated Andreas Jacobs, the former chairman of chocolate maker Barry Callebaut, to join its supervisory board.

The appointment, mentioned by Louis Dreyfus in an investor presentation posted on its website, is subject to approval at a shareholder meeting on Wednesday and is effective the following day.

Jacobs, who stepped down from the Barry Callebaut board at the end of last year after more than a decade, becomes the sixth member of a Louis Dreyfus board headed by majority shareholder Margarita Louis-Dreyfus.

The commodity firm, one of the world’s largest traders of crops such as wheat, sugar and cotton, had reduced the size of its board last year when Serge Schoen, a former group chief executive, and Steven Wisch of investment firm El Dorado Partners left without being replaced.

Louis Dreyfus is trying to recover from a period of falling margins in agricultural trading that has seen its core profits fall in the past two years.

Under Chief Executive Gonzalo Ramirez Martiarena, appointed in 2015, it has set out plans to bring in outside investors for non-core activities such as fertiliser and metals.

Andreas Jacobs is a director of his family’s investment firm Jacobs Holding AG, which is the majority shareholder of Barry Callebaut. (Reporting by Gus Trompiz; editing by Susan Thomas)

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