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Cargill elects CEO MacLennan as chairman amid aquaculture expansion

Cargill has named David MacLennan, currently president and chief executive officer, as chairman of the board in addition to his current responsibilities.

MacLennan will replace Gregory Page, 64, who is stepping down as executive chairman and will continue to serve on the board as an executive director of the company.

“The board appreciates David’s leadership and management of the company. We have the highest confidence he will deliver long term growth for Cargill. Now is the time for him to lead the board as well,” Page said.

MacLennan, 56, joined Cargill in 1991 and has held various leadership positions within the financial, risk management, energy and animal protein businesses in the United States, London and Geneva.

This comes amid an expansion into aquaculture for Cargill.

In August, Cargill paid $1.5 billion for Norway-based Ewos, with the goal of transferring Ewos’ technology and know-how  used in salmon feed to other species such as shrimp, tilapia and other Asian warmwater species.

Prior to this, Cargill announced a joint venture to build a $30 million shrimp feed plant in Ecuador.

Cargill, however, missed out an a deal for Regal Springs, the tilapia farming and processing company, which it has been reportedly eyeing for some time.

Regal Springs ended up taking a minority investment from the owner of Asian feed firm Gold Coin Group.

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