November 18, 2019 / 8:57 PM / 6 months ago

MOVES-Head of agriculture at French sugar group Tereos to leave - sources

PARIS, Nov 18 (Reuters) - The head of agriculture at French sugar group Tereos is leaving the company, sources close to the matter said on Monday, the latest in a series of top management changes at the group in recent months.

Tereos Agriculture Director Herve Nouvellon announced his departure to several members of the cooperative on Monday, the sources said. It was not clear whether he would be replaced.

Tereos declined to comment.

Nouvellon was in charge of ensuring sugar factories get supplies. His departure comes as the sugar beet campaign is in full swing in France.

Tereos last week said the group’s outlook had improved for the rest of the year after posting a narrower loss in the first half, helped by a slight recovery in global prices from historic lows.

The sugar and ethanol group has overhauled its top management in the past year.

Earlier this month it said had appointed a new head of its European sugar business and a new chief of the cooperative members division.

In March, the group’s chief financial officer, the CFO in Brazil and the head of agriculture there departed. It also appointed a new head of its trading unit Tereos Commodities.

The group has also had an internal feud that led to the election of a new chairman, Jean-Charles Lefebvre, in June after his predecessor lost his board seat at a general meeting.

Beyond its historic sugar beet activities, Tereos has expanded geographically, mainly in cane sugar and ethanol in Brazil, and has widened its business to starch and sweeteners. (Reporting by Sybille de La Hamaide, Editing by Timothy Heritage)

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