Cargill Inc., the commodities trader that’s the largest closely held U.S. company, said Chief Operating Officer David W. MacLennan will succeed Gregory R. Page as chief executive officer in December.
MacLennan, 54, joined Cargill in 1991 and has worked in its financial, risk management, energy and animal-protein businesses in the U.S. and Europe, the Minneapolis-based company said today in a statement. He was appointed Cargill’s chief financial officer and elected to the board in 2008 before taking over as president and COO in 2011.
Before Cargill, MacLennan was a senior vice president at LIT America in Chicago and president of Fixed Income Capital Markets at U.S. Bancorp Piper Jaffray in Minneapolis, according to Cargill. He has a bachelor’s degree from Amherst College and a master of business administration from the University of Chicago.
Page, who joined Cargill in 1974 as a trainee in its feed division and has held various leadership positions in Asia and North America, was appointed CEO and chairman in 2007. He will stay on as executive chairman.