BOISE, IDAHO — Garrett Lofto has been named president and chief executive officer of the J.R. Simplot Co. He will succeed Bill Whitacre, who announced his retirement in April, on Sept. 1.
Mr. Lofto has been president of the company’s Agribusiness group since 2009. He has been with the company for the past 26 years.
“Garrett is an outstanding leader and has the vision to guide the company into an exciting future,” said Scott Simplot, chairman of Simplot’s board of directors. “We’re well positioned for success across our organization, and the Simplot family and board of directors are confident we’ve got the right leader to help us achieve great things.”
Mr. Whitacre retires after an 18-year career with the J. R. Simplot Co., the past nine as president and c.e.o. As c.e.o., he expanded the company’s international footprint and enhanced its position with communities, industries, customers and employees. By strengthening Simplot’s competitive position and growing its global presence, Mr. Whitacre has overseen an increase in revenues from approximately $4.5 billion to $6 billion today.