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CORRECTED-UPDATE 1-Louis Dreyfus names new heads for coffee, EMEA region
June 1, 2017 / 3:44 PM / 5 months ago

CORRECTED-UPDATE 1-Louis Dreyfus names new heads for coffee, EMEA region

(Corrects Reis’ first name in first paragraph)

PARIS, June 1 (Reuters) - Commodity trader Louis Dreyfus Company has appointed Marcus Reis, a longstanding oilseed manager at the firm, as its new global head for coffee, effective immediately, the group said on Thursday.

Reis replaces Mikael Morn, who had served in the role since January 2015 and who will leave the company for personal reasons following a transition period, a spokeswoman said.

A German national, Reis joined Louis Dreyfus in 1992 and had worked at the oilseeds division since 1995, most recently as global head of products, according to Louis Dreyfus’ website.

Morn is another long-serving manager at the privately owned trading house who had held posts in North America and Asia prior to succeeding Trishul Mandana as coffee head two years ago.

In another executive move, Louis Dreyfus said it had named Pedro Nonay Vela as head of the Europe, Middle East and Africa region, in addition to his existing role as head of oilseeds in the region.

Nonay has been with the group for the past decade, following a 20-year stint with Cargill, according to Louis Dreyfus’ website.

He takes over responsibility for the EMEA region from David Ohayon, who had previously combined the role with his position as global head of Louis Dreyfus’ grains and value chain divisions.

Dreyfus is part of the so-called ABCD quartet of global agricultural traders along with Archer Daniels Midland, Bunge and Cargill who have been restructuring in response to falling profits.

The traditional majors also face a challenge from diversified commodity group Glencore, which last month said it had approached Bunge, and China’s state-backed COFCO International, which has acquired Dutch trader Nidera and the agriculture arm of Noble Group.

Reporting by Gus Trompiz; Editing by Sybille de La Hamaide and Adrian Croft

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