May 7, 2019 / 2:22 PM / 16 days ago

UPDATE 2-Grain trader Gavilon confirms departure of two Brazil executives

(Recasts with company confirming executives’ departure)

By Ana Mano

SAO PAULO, May 7 (Reuters) - Brazilian commodities trader Gavilon do Brasil, a subsidiary of Japan’s Marubeni Corp , on Tuesday confirmed the departure of two key executives.

Fabricio Mazaia, a former Nidera executive who had been general manager for Gavilon since August 2017, and country controller Caio Silva, who had been with the company since December 2017, have departed, Gavilon said in a statement sent to Reuters.

Two sources earlier told Reuters that both executives had been fired for reasons that were not immediately clear.

Gavilon refused to elaborate on the reasons for the executives’ departure. In the statement, the company said the personnel changes will not impact its Brazilian operations.

“We remain committed to serving our customers and continuing to grow our business,” Gavilon said.

It is the second time in three months that Gavilon is going through management changes in Brazil, one of the world’s largest exporters of commodities like soybeans, sugar and coffee.

Renato Lofrano, the former head of the wheat division, was dismissed amid a dispute over venturing further into the milling segment.

Gavilon is part of a growing group of nontraditional grains traders challenging industry heavyweights in Brazil by using “asset-light” models that forgo investing in assets like port facilities or processing plants.

Marubeni did not respond immediately to requests for comment. (Reporting by Ana Mano Editing by Steve Orlofsky and Leslie Adler)

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