CHICAGO (Reuters) – U.S. agricultural commodities trader Bunge Ltd on Wednesday overhauled its global operations and named a new chief financial officer in the latest shake-up for the 200-year-old company hard hit by a years-long grain market downturn.
The moves come as Bunge reported a stronger-than-expected first-quarter profit due to higher soy crush margins in the United States, Brazil and Europe.
Shares rose as much as 7.5 percent hours after the company announced the operations revamp, its second in 18 months. Bunge is battling to reverse a string of weak earnings blamed on a global grains glut and slumping commodities prices made worse by a bruising trade war between the United States and China.
The company announced management changes and unveiled a new global operating