Bunge Taps Ex-Rival Boss to Take Helm Ahead of Possible Sale

Heckman appointed acting CEO of world’s top soybean processor
Firm also issues profit warning as Brazilian soy premium sinks

Soybeans are harvested with in Wyanet, Illinois. — Soybeans are harvested with in Wyanet, Illinois.
Photographer: Daniel Acker/Bloomberg

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By Mario Parker and Javier Blas

January 22, 2019 at 12:31 PM UTC

Updated on

January 22, 2019 at 6:45 PM UTC

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Bunge Ltd. appointed the former head of a rival agricultural trading house as chief executive officer in a move that may revive talks of a sale of the 200-year-old firm.

Gregory Heckman was named as acting CEO to replace Soren Schroder, whose departure was announced last month. In a statement Tuesday, Bunge also issued a profit warning, citing Chinese soybean trade and lower Brazilian biofuel prices.