A change of guard at Dutch agri trader Nidera, controlled by Cofco, the Chinese state-owned company.
Former Alfred C Toepfer executive Dierk Overheu is replacing Ton van der Laan as the new chief executive, reports Emiko Terazono in London.
Mr van der Laan will leave at the end of June.
Cofco, which owns 51 per cent of Nidera, completed the buyout of its agricultural joint venture with the Hong Kong-based trader Noble Group earlier this year.
Matt Jansen, head of Cofco Agri, the new international trading arm, told the Financial Times this month that there “was no rush” to buy the remaining shares in the Dutch group that was hit by a rogue trading scandal last year.
“If you rush you run the risk of overpaying,” he said. Cofco’s stake in Nidera would rise to 65 per cent because of an earn-out agreement