Bunge appointed three directors to Board
Bunge Limited appointed three new board members and a fourth new director will be appointed before the end of the year.
The three new board members are as follows: Paul J. Fribourg, Chairman and Chief Executive Officer of Continental Grain Company (“Continental Grain”); Gregory Heckman, founding partner of Flatwater Partners; and Henry W. (“Jay”) Winship, President of Pacific Point Capital, LLC. The appointments are effective October 31, 2018.
Bunge, the D.E. Shaw group (“D.E. Shaw”) and Continental Grain reached an agreement to appoint the three directors as well as a fourth, mutually agreeable independent director to be appointed by year end.
In addition, Bunge formed a Strategic Review Committee of the Board, which will be chaired by Paul Fribourg. It will include new directors Greg Heckman and Jay Winship as well as three current directors, Andrew Ferrier, Kathleen Hyle and Mark Zenuk. The committee will conduct a comprehensive, strategic review focused on enhancing long-term shareholder value. The committee will make recommendations to the CEO and the Board. Bunge expects to provide future updates as appropriate.
Greg Heckman will join the Corporate Governance and Nominations Committee, Paul Fribourg will join the Finance and Risk Policy Committee and Jay Winship will join the Compensation Committee. The Board has determined that Mr. Heckman and Mr. Winship are independent directors for purposes of the NYSE corporate governance listing rules, as well as Bunge’s standards of director independence.
In addition to these new appointments, the company added Mark Zenuk and Vinita Bali to the board over the past ten months. Mr. Zenuk has served as Managing Partner of Tillridge Global Agribusiness Partners, an agribusiness private equity firm, since 2016. Ms. Bali brings extensive global food industry experience, having served as Chief Executive Officer of Britannia Industries, a publicly listed food company in India.
Earlier Bunge announced that Christos Dimopoulos had been named President, Agribusiness. Dimopoulos joined Bunge in 2004 and most recently served as senior vice president global grains and oilseeds.
