ROTTERDAM, NETHERLANDS — Louis Dreyfus Commodities announced on Dec. 31 that Mayo Schmidt will not assume the position of chief executive officer (CEO), as the company announced on Nov. 28.
Following a more detailed analysis of the terms and conditions of their planned employment relationship, Louis Dreyfus Commodities and Schmidt have jointly decided not to proceed, the company said.
“On behalf of the entire supervisory board, I would like to wish Mayo Schmidt much success in his future endeavors,” said Margarita Louis-Dreyfus, chairperson of Louis Dreyfus Holding and deputy chairperson of Louis Dreyfus Commodities Holdings.
Schmidt, who is former president and CEO of Viterra, Inc., was to succeed interim CEO Claude Ehlinger. Ehlinger will continue to ensure the group’s operational leadership, Louis Dreyfus said.
The search for the CEO of Louis Dreyfus Commodities will resume immediately, the company said.