July 10, 2020 / 2:19 PM / a month ago

UPDATE 1-Louis Dreyfus promotes Gelchie to CEO role as McIntosh to retire

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PARIS, July 10 (Reuters) - Agricultural commodity merchant Louis Dreyfus Company (LDC) said on Friday that its Chief Executive Officer Ian Mcintosh will retire in September, with current Chief Operating Officer Michael Gelchie stepping up to succeed him.

Company veteran McIntosh had taken up the CEO role in 2018 in one of a series of management reshuffles under Margarita Louis-Dreyfus, the majority shareholder of the 169-year-old family-owned firm.

Gelchie was promoted to an enlarged COO role last year to lead a cost savings programme.

He will serve as deputy CEO until taking on the CEO position from Oct. 1, LDC said in a statement.

Reporting by Gus Trompiz, editing by Louise Heavens

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