(Bloomberg) -- Patrick Treuer, global head of strategy at commodity trader Louis Dreyfus Co., has been named non-executive chairman of Biosev SA, the world’s second-largest sugarcane processor.
Treuer, a former Credit Suisse Group AG investment banker, takes over the role from Claude Ehlinger, the deputy chief executive officer of Louis Dreyfus and former interim CEO, who is leaving at the end of the month.
Treuer’s appointment was announced on Louis Dreyfus’s website. Biosev, which has 11 agro-industrial units in Brazil producing sugar and ethanol, is controlled by the Louis Dreyfus Group, which also controls Louis Dreyfus Co.
Adrien Tardy, Louis Dreyfus Co.’s former head of corporate finance and chief financial officer for the Europe and Black Sea regions and a vice-chairman at Sao Paulo, Brazil-based Biosev, has also left the company and the Biosev board, a Louis Dreyfus spokeswoman said.
Ehlinger, also a former Dreyfus CFO, served as the commodities trading house’s interim CEO from April 2014 until last October. The firm named former Vittera Inc. head Mayo Schmidt its new CEO in November 2014, only to announce the next month that he wouldn’t be taking on the role. Gonzalo Ramirez Martiarena, the former head of its Asia unit, took over as CEO in October, 2015.
Billionaire Margarita Louis-Dreyfus controls the 165-year-old commodity trading company through a family trust set up by her late husband Robert Louis-Dreyfus. Serge Schoen, who served as CEO from 2005 to 2013, left the Louis Dreyfus supervisory board this month along with Steven Wisch, a former Goldman Sachs Group Inc. partner.
In March, the company said its full-year profit fell 67 percent to the lowest in a decade as the world’s largest trader of rice and raw cotton was hurt by lower prices, reduced volatility and an oversupply of agricultural commodities.
Margarita Louis-Dreyfus is considering selling a minority stake in the firm to finance the purchase of shares from other family members. She owns 81 percent of the holding company that controls Louis Dreyfus Co. and was appointed chairman on Oct. 1, succeeding Schoen.
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