UPDATE 1-Louis Dreyfus owner raises stake; CEO hunt goes on

jueves 26 de marzo de 2015 13:46 GYT
 

* Margarita Louis-Dreyfus' trust now has 80 pct of holding

* Says higher 2014 results show can take time to find CEO

* Outside investors an option for the future (Combines with Akira shareholding story, adds quotes, detail)

By Gus Trompiz

PARIS, March 26 (Reuters) - Margarita Louis-Dreyfus has tightened her control over Louis Dreyfus Commodities B.V. , and said solid 2014 results showed the trading group could take its time in its almost year-long search for a new chief executive.

The Russian-born billionaire said on Thursday her family trust, Akira, had raised its stake in Louis Dreyfus Holding to 80 percent from 65 percent, after minority family shareholders exercised options to sell shares to Akira.

The holding firm in turn owns 85 percent of Louis Dreyfus Commodities, with employees owning the remaining capital.

The commodities group earlier reported a small rise in 2014 net profit to $648 million, with increased volumes and processing margins offsetting lower commodity prices. The results showed current management was keeping the company on track, it said.

The 164-year-old firm would take its time to find a leader who fitted its values, Margarita Louis-Dreyfus told reporters, brushing off concerns about a CEO vacuum that was prolonged when the appointment of the former head of Canada's Viterra fell through suddenly in December.   Continuación...