As a schoolteacher in Cologne specialising in Catholic theology, Martin Richenhagen learnt the values of calmness, discipline and humility - attributes that he hopes to practise as chairman and chief executive of Agco, the world's third biggest maker of tractors and farm equipment.

On the back of hefty rises in global crop prices, providing farmers almost everywhere with plenty of cash for investments, Agco last year recorded a three-fold rise in underlying net income, announcing after-tax profits of $106m (excluding a $171m impairment charge) on sales of $5.4bn. In 2005, net income was $31.6m on sales of $5.5bn.