Departure of Cofco CEO Raises Questions of Potential Grain Trading Growth
If Cofco’s goal was to create one of the largest agricultural merchants in the world in 2017, that plan needs to be put on hold for now. Matt Jansen, head of the group’s International Commodity Trading Unit, stepped down last week after less than two years in the role due to personal reasons. Current vice president Jingtao (Johnny) Chi has been named as Jansen’s replacement.
Unfortunately, Jansen is not the only senior level employee to exit Cofco of late. Per the company, they have experienced several top traders leaving over the past year including top traders for wheat and corn.
Although Cofco Agri will continue to source agricultural commodities for the group, the international scope of its activity will likely be curbed going forward according to analysts.