ROTTERDAM, THE NETHERLANDS, December 31st, 2014 – Louis Dreyfus Commodities announced today that Mayo Schmidt will not assume the position of Chief Executive Officer (CEO), as previously communicated.
Following a more detailed analysis of the terms and conditions of their planned employment relationship, Louis Dreyfus Commodities and Mr. Schmidt have jointly decided not to proceed with the engagement, while retaining the highest mutual professional respect. “On behalf of the entire Supervisory Board, I would like to wish Mayo Schmidt much success in his future endeavors,” said Margarita Louis-Dreyfus, Chairperson of Louis Dreyfus Holding and Deputy Chairperson of Louis Dreyfus Commodities Holdings.
The search for the CEO of Louis Dreyfus Commodities will resume immediately. In the meantime, Deputy CEO Claude Ehlinger will continue to ensure the Group’s operational leadership.