ATCHISON, KANSAS, U.S. — MGP Ingredients, Inc. has hired Heidrick & Struggles, Inc., an executive search firm based in Chicago, Illinois, U.S., to assist with the recruitment of a new chief executive officer (CEO). The firm is expected to work with a search committee established by the company’s board of directors.
MGPI terminated Tim Newkirk as CEO in December without cause as part of a settlement agreement with the Cray group, which includes members of the company’s founding Cray family.
“We are very excited to move forward with this key step in the process of finding the right CEO to lead our company,” said Cloud L. (Bud) Cray, chairman of MGPI. “The board has great confidence in the capabilities of Heidrick & Struggles and is pleased to have been able to engage this highly regarded firm to assist us.”
Currently, Randy Schrick and Don Tracy are filling the roles of interim co-CEOs. Schrick is vice-president of engineering at the company, and Tracy is vice-president of finance and chief financial officer.
Since Russia’s invasion of Ukraine in February, the world’s wheat supply has been thrown into question, with poorer nations facing scarcity and a potential food crisis, according to the United Nations.
Following are countries among the world’s least developed that are the most dependent on Russia and Ukraine for their annual wheat supply (2020), according to the UN Conference on Trade and Development. Nations in Africa import 44% of their wheat from Russia and Ukraine, according to the UN.
In marketing year 2022-23, the world is projected by the US Department of Agriculture (USDA) to produce 779.03 million tonnes of wheat and provide 204.89 million tonnes for export.
These are the eight major wheat importing nations/regions as listed in the monthly USDA World Agricultural Supply and Demand Estimates (WASDE) report and their annual tonnes with production.
Russia’s invasion of Ukraine in February and the persistent La Niña climate phenomenon have combined to create some of the most volatile market conditions in recent memory, sending prices skyrocketing as nations that depend on wheat to feed their populations scramble to secure supplies.
Each month, the WASDE releases new projections to reflect the most recent global market and production conditions, and this slideshow will be updated with those changes.