U.S. agriculture giant Cargill has named Brian Sikes its new chief executive officer (CEO) as it diversifies and expands its business.
Sikes, who became chief operating officer (COO) last year after running Cargill’s meat business, will take over the company on January 1, 2023, replacing David MacLennan, who will become executive chair.
During his tenure, MacLennan greatly expanded the 157-year-old agriculture trader and delivered a string of record profits.
Minneapolis, Minnesota-based Cargill is privately held and owned by two families. The company currently has about 160,000 employees worldwide.
Cargill posted a $6.68 billion U.S. profit in its last fiscal year, a record high. The company has benefitted from a rally in grain prices and other commodities following Russia’s invasion of Ukraine.
Cargill buys, stores, processes, and moves grains and other food across the globe. It is the largest privately held corporation in the U.S. with more than $115 billion in annual revenues.
Brian Sikes takes over Cargill as the company diversifies and moves into more profitable meat processing, as well as higher-value products such as animal and alternative proteins, starches, and sweeteners.
Sikes, age 54, has worked at Cargill for 31 years and will be the company’s 10th CEO. He has held leadership roles in the U.S., Canada, and Europe, and was also responsible for growing the company’s global protein and salt business.
