Bunge Limited, a global agribusiness and food company, announced changes to its Board of Directors before the 2023 Annual General Meeting of Shareholders. Non-executive chairperson of the Board Kathleen Hyle and director Erik Fyrwald have informed the Company that they do not intend to seek re-election to their Board positions when their current terms expire on May 11, 2023. Hyle had served on the Board for a decade and expressed confidence that the company would be in good hands with Mark Zenuk as her successor. Accordingly, the Board intends to appoint Zenuk as non-executive chairperson, subject to his re-election to the Board at the AGM.
Zenuk is a member of Bunge’s Enterprise Risk Management Committee and serves as chairperson. He has been on the Board since 2018 and is also a Managing Partner at Tillridge Global Agribusiness Partners, an agribusiness private equity firm. In addition, the company has announced its intention to nominate Monica McGurk and David Fransen to the slate of director nominees at the 2023 AGM. If elected by shareholders, Fransen would serve on the Enterprise Risk Management Committee and Human Resources and Compensation Committee.
Fransen brings extensive experience to the Board, having served as Chairman and non-executive director of Vitol S.A., Geneva, from 2017 until his retirement in 2020. Before that, he held roles of increasing responsibility at Vitol Group, a global energy and commodities trading company, including leading the global gasoline trading group, heading the Bermuda office, and serving as Group Head of Information Technology and Chief Operations Officer. He was also a founding member of the Swiss Trading and Shipping Association, serving as President for six years, and a former non-executive director of Greenfields Petroleum Corporation.
The changes to the Board come at a time of growth and transformation for Bunge, which has recently expanded its capabilities in plant-based proteins and ingredients and its footprint in Asia. The company has also been recognized for its sustainability efforts, including its commitment to reducing greenhouse gas emissions and advancing responsible supply chain practices. As Bunge continues to navigate a rapidly evolving industry landscape, the Board’s leadership will be critical in driving long-term success for the company and its stakeholders.
Image provided by Bunge
