USA- Ceres Global AG Corp appointed Jennifer Henderson to succeed Glen Goldman as vice president, general counsel, and corporate secretary.
Goldman stepped down on 31st December 2022 and has since been working with the Minnesota-based commodity trading company on a consultative basis.
“We thank Glen for his contributions to Ceres over the last four years and wish him continued success in his future endeavors,” said Carlos Paz, CEO of Ceres.
Henderson has an extensive legal background, global leadership experience in logistics, supply chain solutions, futures and commodities trading, and experience in product safety and regulatory affairs in the food, feed, and biotechnology segments.
The new vice president has held leadership positions at Cargill and Believer Meats, and her experience will strengthen the management team at Ceres and support its strategic growth.
Most profitable quarters in the history of the Ceres
Henderson’s appointment follows the release of Q4 financial results where the company registered a gross profit of US$6.7 million, the most profitable the corporation has ever had.
The corporation realized this profit despite the volatility in the market, resulting from the ongoing conflict in Ukraine and a severe drought that affected South American crops, especially in Argentina.
The corporation, however, experienced a net loss of US$1.3 million for that quarter and an adjusted net income of US$620 thousand.
Ceres traded 29.6 million bushels (0.75184 million metric tons), up 14% from 25.9 million bushels (0.65786 million metric tons) in the last quarter of 2021.
Ceres’ income from operations in this quarter was US$976 thousand, a record comeback from the US$7.0 million recorded in the previous year’s last quarter.
Ceres to focus on regenerative agriculture solutions in 2023
Meanwhile, Ceres has reiterated its focus on regenerative agriculture solutions “to increase the value in our core commodity portfolio and create significant opportunities to differentiate ourselves from competitors,” according to Mr. Paz.
Mr. Paz added that Ceres plans to monitor weather and crop decisions to leverage market opportunities for the new crop as they enter the spring planting season.
In line with the company’s FY2023 strategy, Ceres will seek to maximize its network of assets to increase margins across all products in 2023 and beyond.
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