World Grain - October 2013 - 16

newsreview
Louis Dreyfus appoints supervisory board chairman
ROTTERDAM, NETHERLANDS — The supervisory board of Louis Dreyfus Commodities Holdings B.V. on the recommendation of
Margarita Louis-Dreyfus, chairman and the biggest shareholder of
Louis Dreyfus Holding (LDH), announced on Sept. 25 that it has
appointed Serge Schoen as its new chairman, effective immediately.
Margarita Louis-Dreyfus, who has held this position previously,
has decided to refocus on her functions as chairperson of the supervisory board of the parent company, LDH, and as deputy chairperson of
the supervisory board of Louis Dreyfus Commodities Holdings B.V.
Schoen will assume his new function in the Louis Dreyfus Group notably in relation to key strategic matters.
Schoen served as chief executive officer of Louis Dreyfus Com-

modities from 2006 to June 2013, and has remained a member of
the supervisory board of Louis Dreyfus Commodities Holdings B.V.
“Over the next few years, the commodities industry is expected to undergo significant transformation.” said Margarita LouisDreyfus. “Serge has made very valuable contributions to Louis
Dreyfus Commodities as its CEO over the years, and was a natural
choice for the appointment to this position, which will enable him
to concentrate on the strategic decisions connected to the long-term
future of our company. Serge will also work with me on reinforcing corporate governance and optimizing the company’s business
model, in order to guarantee the effectiveness and prosperity of the
Louis Dreyfus Group.”

Olam’s 2013 profits down 2%
SINGAPORE — Olam International Limited announced on Aug. 29
that its 2013 profit after tax and minority interest (PATMI), excluding
exceptional items, decreased 2% to S$348.6 million from S$355.5
million in 2012.
For the fourth quarter, PATMI dropped 48.1% to S$56.8 million,
due to the impact of higher tax charges of S$50.6 million recognized
in the quarter, compared to a net tax credit of S$8.2 million in the
fourth quarter of 2012.
Sales revenue for the full year increased 21.7% to S$20.8 billion,

and sales volume was up 49.5% to 16 million tonnes.
While the long-term trends in the agri-sector remain attractive, the
nearer-term macroeconomic uncertainty and increased volatility could
impact the sector, Olam said. The company’s diversified portfolio with
leadership position in many of its segments provides a resilient platform
to navigate the uncertainties in the global markets, it said. The company’s strategy for the plan period from 2014 to 2016 has already been
announced and the focus remains on execution and extracting full value
from investments already made and generating positive cash flow.

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www.schulefood.de
16

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October 2013 / World Grain / www.World-Grain.com

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World Grain - October 2013

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