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US: Former Louis Dreyfus boss was ousted for searching for a Glencore merger

 |  April 1, 2019

The previous CEO of crop merchant Louis Dreyfus Company (LDC) was ousted after trying to start talks with Glencore Agriculture and other rivals, the Financial Times reported on Monday, April 1.

LDC, one of the world’s largest agricultural commodity traders, announced last September the surprise departure of Gonzalo Ramirez Martiarena, along with that of its finance chief, the latest in a series of management reshuffles under controlling shareholder Margarita Louis-Dreyfus.

The company stated at the time that Ramirez, who took the CEO position three years earlier, had left to pursue other opportunities and that the move was unrelated to financial performance or strategic issues.

Citing people familiar with the matter, the FT reported Ramirez’s departure was the result of an attempt to start discussions with Glencore Agri, a joint venture between the Switzerland-based commodity trader and two Canadian pension funds.

Full Content: Financial Times

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