April 23, 2018 / 3:57 PM / a month ago

UPDATE 1-Louis Dreyfus names Maserati as chief operating officer in shake-up

(Updates with details, quotes)

By Sybille de La Hamaide

April 23 (Reuters) - Louis Dreyfus Company has named Andrea Maserati as Chief Operating Officer and former Edesia head Ian McIntosh as Chief Strategy Officer as part of a management reshuffle.

As the “D” in the “ABCD” quartet of trading houses, Louis Dreyfus Company (LDC) dominates global agricultural commodity trading alongside Archer Daniels Midland, Bunge and Cargill.

All have been reorganising in response to a period of high supply and reduced price volatility that have eroded margins for buying, selling and shipping agricultural goods.

“As Group COO, (Andrea Maserati) will continue to strengthen LDC’s business activities and operations across our geographies,” LDC Chief Executive Officer Gonzalo Ramirez Martiarena said in a statement on Monday.

The COO position now filled by Maserati, who was previously Senior Head of Regions and Senior Head of Functions, had been closed for a long time and should not be seen as a deputy CEO, a company spokeswoman said, declining to give further details.

LDC said it was also enlarging its Senior Leadership Team with the aim of exploring new growth opportunities, it said.

Additional appointees include several members of LDC’s existing Executive Group, as well as Ian McIntosh who was appointed LDC Chief Strategy Officer.

McIntosh joined LDC in 1986 and left in 2008 to set up Edesia Asset Management, part of the Louis Dreyfus Group, serving as CEO and Chief Investment Officer until its closure.

LDC said last year it was winding down Edesia as part of its drive to focus on trading and processing of agricultural goods.

“The newly appointed members of our Senior Leadership Team bring a range of seniority, experience, business acumen and specific market knowledge that will strengthen our decision-making process and facilitate the pursuit of our strategic goals and ambitions,” Ramirez Martiarena said. (Reporting by Sybille de La Hamaide, Editing by Alexander Smith)

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