WHITE PLAINS, N.Y. — Bunge Ltd. said it is simplifying its structure from five operating units to three regions, a move designed to streamline its operating model, further leverage its global scale and increase its focus on customers and growth. The restructuring is part of the company’s $250 million global Competitiveness Program unveiled in mid-July.
Under the new structure Bunge said it will operate as three regions: North America, South America and Europe/Asia. Previously, the company operated as five operating regions: Bunge North America, Bunge Brazil, Bunge Southern Cone, Bunge EMEA and Bunge Asia.
Three leaders have been chosen for the regions:
• Todd Bastean, president of North America
• Pierre Mauger, president of Europe/Asia
• Raul Padilla, president of South America and Sugar & Bioenergy.
Bunge said the three operating regions will be supported by centralized global corporate functions, including finance, H.R., I.T. and legal. Meanwhile, the global heads of Agribusiness, Food and Ingredients, and Sugar and Bioenergy will lead strategy, value chain maximization, cross regional customer relationships and risk management, Bunge said.
The following executives will remain members of the company’s Executive Committee:
• Thomas Boehlert, executive vice-president and chief financial officer
• Deborah Borg, executive vice-president and chief H.R. and communications officer
• Gordon Hardie, president of Food and Ingredients
• David Kabbes, executive vice-president of corporate affairs and chief legal officer
• Brian Thomsen, president of Agribusiness.“This new structure allows us to leverage our scale while remaining close to customers and local market opportunities,” said Soren W. Schroder, chief executive officer. “The proven executives who will lead our regions and segments will work together with our global functional leaders to achieve the objectives of the Competitiveness Program, including removing operational complexity, reducing costs and maximizing shareholder value.”