• Ton van der Laan to retire by the end of June, Nidera says
  • Dutch trader also appointed new CFO, CIO in February

Dutch grains trader Nidera BV said Chief Executive Officer Ton van der Laan will retire as the company overhauls its management structure.

Van der Laan agreed to retire by the end of June and the search for a replacement has begun, Nidera said in an e-mailed statement Wednesday. The decision comes after the appointments of Timothy Lodge as chief financial officer and Rogier Jacobs as chief information officer on Feb. 1, Bert Ooms, a spokesman for the Rotterdam-based company, said by phone.

Nidera is restructuring management after a decision last year not to integrate its operations with majority shareholder Cofco Corp., China’s largest food company, and Noble Agri Ltd. The three firms had been planning to form a single trading house after Cofco acquired 51 percent of Nidera and Noble Agri in 2014.

Van der Laan will continue in his role until a successor is appointed, Nidera said.

The company also named Philippe Huet as executive vice president for grains and oilseeds in Europe from March 1, Ooms said. He was previously with Cargill Inc.’s cocoa business.

Nidera suffered a “significant loss” in biofuels because of the actions of a “rogue trader," van der Laan said in September. The losses prompted Nidera to exit biofuels trading last year.

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