Agribusiness Bunge Names Three New Board Members

October 31, 2018

2 Min Read
Agribusiness Bunge Names Three New Board Members

American agribusiness Bunge Limited recently expanded the size of its board to 14 members with three new appointments and revealed plans to add a fourth board member that will serve as an independent director, the White Plains, NY firm said in a press release Wednesday. 

The new members include Continental Grain Company Chairman and Chief Executive Officer Paul J. Fribourg, Gregory Heckman, a founding partner of Flatwater Partners, and Pacific Point Capital LLC President Henry W. Winship. 

‘We welcome these new directors to the Bunge Board and will benefit from their valuable expertise and perspective as we continue to transform Bunge, execute on our strategic priorities, and seek ways to enhance shareholder value,” Soren Schroder, the firm’s chief executive officer, said in a statement. “We are committed to engaging with all shareholders as we continue to pursue value-enhancing opportunities for Bunge.”

Bunge, Continental Grain, and the D.E. Shaw Group also agreed to appoint a fourth member that will serve as an independent director by the end of this year. Beyond the new board members, Bunge also created a Strategic Review Committee within the board headed by Fribourg that will examine opportunities for enhancing shareholder value. 

“Bunge is extremely well-positioned within the broader agribusiness and food sector. We believe that the fresh perspectives and exceptional backgrounds of these new directors – as well as the strategic review to be conducted by the newly-formed committee – will help ensure the company can maximize its potential and create significant shareholder value moving forward,” said Fribourg in the release. 

Serving as Continental Grain’s chairman and CEO since 1997, Fribourg brings over four decades of experience in the agribusiness, food and commodities industries to the board. He will also join the Finance and Risk Policy Committee on Bunge’s board. Heckman, who recently occupied the role of CEO at The Gavilon Group, is slated to join the Corporate Governance and Nominations Committee. The Compensation Committee will add Winship to its roster. 

The appointments became effective on Oct. 31. 

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