WHITE PLAINS, NEW YORK, U.S. — Bunge Limited announced on Dec. 6 that Alberto Weisser will resign from its board of directors effective Dec. 31, concurrent with his planned retirement as executive chairman. Weisser has served as executive chairman since June 2013 and previously served as chairman and chief executive officer (CEO) since 1999.

The board has appointed L. Patrick Lupo to succeed Weisser as non-executive chairman, effective Jan. 1. Lupo has been a member of Bunge's board since 2006 and currently serves as deputy chairman and lead independent director, as well as chairman of the compensation committee. He is the former chairman and CEO of DHL Worldwide Express.

"Alberto successfully led Bunge through a period of transformation and expansion," said Lupo. "During his tenure, the company established a network of well-placed assets, built leading market positions in agribusiness and food and ingredients, and developed a talented team. The foundation he put in place has opened up numerous possibilities for Bunge and will serve as a springboard for future success. The board joins me in thanking Alberto for his outstanding contributions and in wishing him the very best in the future."

"It has been an honor to lead Bunge," said Weisser. "We accomplished a lot in the 20 years since I joined the company, and as it approaches its 200th year of operations, the future holds even greater potential."