06.
01.17
18:13

Matt Jansen leaves COFCO

The State grain purchasing of China's COFCO announced today that the CEO of the international grain Department Matt Jansen has announced. He was hired 18 months ago, while the company is spreading around the world.
Jansen's successor is his former Deputy Jingtao Chi, who now presides the company COFCO agri Ltd. and COFCO international. Chi (53) has worked for COFCO already for 14 years and was Executive Board and President of COFCO Corp since December 2013 member since 2010.
For a transitional period and up to the renewal of the post Jansen will be the companies as an independent consultant available.
Also Kevin Brassington of head of Department of COFCO agri grain and oilseeds has left the company, it approves from informed circles. The farewell of two executives follows a turbulent year for the rapidly expanding company. Bumper crop of grain and oilseeds in major exporting nations such as the United States brought prices under pressure and have intensified competition between the global trading houses.
Jansen was in July CEO of COFCO international and Director of the agricultural Department since may 2015. He was previously staff by the present competitors Archer Daniels Midland.
COFCO runs an aggressive expansion policy and wants to establish itself with a vengeance under the major agricultural trading house in the world. To do this, the company for us $ 3 billion has bought noble group and backed up even the majority shares of the Dutch company Nidera.
Since the acquisitions of Nidera shares in 2014 has COFCO several large losses suffered; including a financing gap of 150 million US Dollars for the engagement in South America, as well as a trading loss of $ 200 million from a non-approved bio-diesel business.

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