NETHERLANDS – Agricultural commodity trader, Louis Dreyfus Company (LDC) has announced the appointment of Michael Gelchie as Chief Operating Officer (COO) of the group.
Michael began his career at LDC in 1990 and worked for the Group in different senior trading and management positions in LDC’s Sugar, Rice and Cocoa businesses.
He has been instrumental to the company’s growth including assisting in the startup of Louis Dreyfus Investment Group in 2008, where he was a Senior Portfolio Manager.
Michael left the Group in 2010 to work as Head of Agricultural Trading at Sierentz LLC and then Head of Systematic Trading at Sucden Americas Corporation and later returned to LDC in July 2019 as Head of the Coffee Platform.
In his new role, Michael will report to Chief Executive Officer, Ian McIntosh. He will also join LDC’s Senior Leadership Team.
The company has also announced the departure of Andrea Maserati “to pursue other interests.”
Margarita Louis-Dreyfus, Chairperson of the Supervisory Board of LDC, said: “I take this opportunity to thank Andrea for his big contribution to the company over the past 8 years, and wish him all the best for the future.”
LDC has also appointed its long serving executive, Nigel Mamalis as Global Head of Risk & Compliance.
Nigel has held various senior executive roles since joining the Group in 1988. The commodity trader noted that he will now contribute his long business and company experience to LDC’s key management team.
In addition, Michel Demaré, a member of LDC’s Board since April 2014, has been appointed as the new Deputy Chairman of the Board.
Better focus on strategic and operational priorities
Commenting on the appointments, Ms. Louis-Dreyfus said that the measures will allow the company to streamline its organization in order to be able to better focus on the current challenges of our industry.
“Michael Gelchie will bring us not only long-standing experience as a member of the LDC leadership team, but also an important “outside-in” view that will help us to adjust better the company’s operations to current market conditions and the opportunities of the future.
“I am also delighted to welcome on board Nigel Mamalis. His extensive experience in risk management and compliance will be an important asset for our company.
“I also wish to thank Michel Demaré for his long-standing commitment and support to the LDC Board and to our company, and I look forward to working even more closely with him in the future,” Ms. Louis-Dreyfus said.
Ian McIntosh, CEO of the company, added: “As we face increasingly complex challenges, both as a company and an industry, I firmly believe that these organizational changes will allow us to better focus on our strategic and operational priorities.
“I have known and worked closely with Mike and Nigel for many years, and am confident that they will help steer the company on the right path.”
