Louis Dreyfus Company Announces CEO Succession || Louis Dreyfus Company

Jul 10, 2020

Rotterdam, The Netherlands, July 10, 2020 – Louis Dreyfus
Company Holdings B.V. (LDCH) announced today that Ian
McIntosh has decided to retire in September 2020, and that Michael (Mike) Gelchie
will replace him as Chief Executive Officer, effective October 1, 2020.

“I want to
thank Ian for his leadership and strategic vision during the last two years,
during which he has steered LDC collectively in the right direction and been a great
ambassador of the company, and I wish him all the best for the future,” said Margarita Louis-Dreyfus, Chairperson of the
Supervisory Board of LDCH.

“I also want
to welcome Mike to his new position, with whom we are appointing a strong
operational leader, with extensive knowledge of trading and inclusive
management skills,” Ms. Louis-Dreyfus added. “Under his operational leadership
as COO, LDC has worked effectively through COVID-19 to continue to deliver safely
for customers and consumers globally, and achieved a much-improved performance
in the first half of the year. I am confident that Mike will successfully lead
LDC through its strategic transformation and innovation, to further improvements
in business performance. The Board and I look forward to working closely with
him, and to supporting him in his endeavors.”

national, Mr. Gelchie began his career within the Group in 1990, working in
senior trading and management positions in its Sugar, Rice and Cocoa businesses,
and assisting in the startup of Louis Dreyfus Investment Group in 2008, where
he was a Senior Portfolio Manager. He left the Group in 2010 to pursue other
opportunities, returning subsequently to LDC as Head of the Coffee Platform,
before his appointment as COO in 2019.

“I am honored
by this appointment as LDC’s CEO, and to have the opportunity to build on the
company’s successful development over the past two years, as we continue to
implement our ambitious growth strategy and reinforce our position as a leading
industry player for the long-term,” said Mike Gelchie.

Mr. Gelchie will serve as Deputy CEO over the coming
months, working closely with Mr. McIntosh to complete a smooth and successful leadership

“Reflecting on my 34 years with the Group, I am
extremely grateful to have been a part of an amazingly professional, innovative
and dynamic organization, and feel proud of what I have accomplished throughout
this period,” said Ian McIntosh. “I am happy to retire knowing that the team at
LDC is performing well, and that we have taken the time to identify and
integrate our future CEO, whom I have known and worked closely with for many
years, to drive forward LDC’s strategic plans.”

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