Ceres appointed Coyle to the board as an independent director effective 1st October 2022. In addition to this role, he also led the board’s oversight of Ceres’ risk management and futures compliance.
As a consultant, the business administration veteran will provide insight into operations, trading, business development, administration, and management to the Minneapolis-based company.
This new role will allow him to handle more hands-on roles at Ceres, providing even more value to the company thanks to his vast experience managing businesses.
Coyle, who has above 43 years of experience working in agriculture, retired in 2019, having worked as managing director for North America at Cofco International.
He also worked as the general manager for Nidera’s grain and oilseed business, overseeing the largest delivery warehouse for Chicago Board of Trade futures contracts.
Additionally, Coyle was chairman of the National Grain and Feed Association, where he served as chairman of its Risk Management Committee too.
During his career, Coyle has worked extensively with the exchanges and the US Commodity Futures Trading Commission to address issues in commodity futures markets, including contract design.
“Tom’s depth of experience working in agriculture — and in particular, futures delivery markets — has helped shape Ceres’ operations and risk management, and we look forward to his continued support as a consultant to the corporation,” said Carlos Paz, CEO of Ceres.
“It is clear from Tom’s contributions to date as a member of our board that Ceres will benefit greatly by Tom transitioning to a more hands-on role supporting the management team,” James Vanasek, chairman of Ceres’ board of directors, commented.
Ceres, with its affiliated companies, operates 13 locations across Saskatchewan, Manitoba, Ontario, and Minnesota, with an aggregate grain and oilseed storage capacity of about 31 million bushels (approximately 0.8 million metric tonnes).
The company adds value to this product through efficient sourcing, storing, transporting, and marketing of high‐quality agricultural commodities, value-added products, and raw materials.
Having a consultant as experienced as Coyle will be instrumental to Ceres’ operations.