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Leading ADM corn trader leaves to join Ameropa -sources
January 18, 2017 / 4:23 PM / 10 months ago

Leading ADM corn trader leaves to join Ameropa -sources

SINGAPORE, Jan 18 (Reuters) - The head of corn trading at Archer Daniels Midland Co, Victor Petzold, has left to join Swiss trader Ameropa AG, two sources with direct knowledge of the matter told Reuters on Wednesday.

Petzold’s move is the second high-profile departure from ADM this month as the company and other global agricultural traders grapple with a grain glut that is depressing prices.

ADM and Ameropa both declined to comment.

The chief executive of United States-based Archer Daniels’ trading arm in Asia, Frederik Groth, has also left the company, sources said on Friday.

Petzold had worked at German trader Alfred C. Toepfer until 2014 before joining ADM, according to his LinkedIn profile.

Earlier this month COFCO Agri, the international grains business of China’s state run COFCO Corp, said that Matt Jansen had resigned as CEO after 18 months in the job. (Reporting by Naveen Thukral; Additional reporting by Jonathan Saul, Michael Hogan and Tom Polansek; Editing by David Goodman)

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