Cargill’s CEO Shakes Up Business After Profits Miss Goals
- Trading giant streamlining to three units from five previously
- Company sets new 2030 strategy to strengthen its portfolio
Cargill’s previous structure was made up of five enterprises.
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
Cargill Inc. is streamlining its operations after missing profit targets, the first big shakeup Chief Executive Officer Brian Sikes is implementing since taking the helm of the world’s largest crop trader.
The largest closely held company in the US will reduce the number of business units to three from five as a part of its 2030 strategy, according to people familiar with the matter, who asked not to be identified because the information is private. Less than a third of Cargill’s businesses reached their earnings goal in fiscal 2024, the people said.