Cargill Says Chairman MacLennan to Retire at End of Year (1)

Cargill Inc. Executive Chairman Dave MacLennan will retire at the end of 2023 after helping drive the commodity trader and meat producer to record profits in recent years.

Chief Executive Officer Brian Sikes has been elected to succeed MacLennan, the company said in a Wednesday statement.

MacLennan, who stepped down as CEO about a year ago, turned the 158-year-old company into a protein giant, delivering two consecutive years of record profits amid disruptions in global meat markets.

Sikes now will serve as CEO, president and chairman of Cargill during a time when declining meat prices have been squeezing profits ...