Bunge Appoints John Neppl As CFO

(RTTNews) - Bunge Limited (BG) announced that it appointed John Neppl as Chief Financial Officer, effective May 29, 2019. He will succeed Thomas Boehlert who has served as Chief Financial Officer since 2017 and will remain for a transition period.

Neppl joins Bunge from Green Plains Inc., where he served as Chief Financial Officer. Before to Green Plains, Neppl was Chief Financial Officer of Gavilon Group and previously held senior financial roles at ConAgra Foods.

In Agribusiness, based on the current soy crush margin environment, 2019 full-year results would be expected to be lower than 2018.

In Food & Ingredients, full-year results in Edible Oils should benefit from 12 months of ownership of Loders Croklaan, as well as increased synergies from the integration of B2B businesses.

In Sugar & Bioenergy, based on normal weather and forward price curves for sugar and ethanol, full-year 2019 results would be expected to be about break-even.

Separately, Bunge said that Agribusiness will be organized under three of the company's most experienced executives.

Raul Padilla, President, South America and Sugar & Bioenergy, becomes President, Global Operations.

Christos Dimopoulos, President, Agribusiness, becomes President, Global Supply Chains. In this role, he will lead the physical commodity supply chains that support Bunge's handling and processing assets.

Brian Zachman, President, Global Risk Management, continues in this role, working to improve returns while reducing volatility across the company, the company said.