|Martin Richenhagen, chairman, president and chief executive officer at AGCO Corp.|
DULUTH, GEORGIA, U.S. —Martin Richenhagen, chairman, president and chief executive officer at AGCO Corp., has been reappointed to the U.S. President’s Advisory Council on Doing Business in Africa (PAC-DBIA).
In August 2014, U.S. President Barack Obama issued an executive order following the U.S. Africa Business Forum directing the U.S. Secretary of Commerce to establish the council. The council will build upon Obama’s Doing Business in Africa Campaign, launched in November 2012.The campaign’s objectives are to connect U.S. businesses with African partners, support existing and new U.S. investment in Africa, expand access for U.S. businesses to finance their exports to Africa and reduce barriers to trade and investment in Africa.
The 23 business executives appointed to the council were unveiled by U.S. Department of Commerce Secretary Penny Pritzker on Sept. 20. All appointed members have been invited to participate in the U.S.-Africa Business Forum held in New York City, New York, U.S., on Sept. 21.
“I am pleased to reappoint Richenhagen to the President’s Advisory Council on Doing Business in Africa,” Pritzker said. “His experience and counsel help us to strengthen commercial engagement between the United States and Africa.”
This is the second time that Richenhagen has been selected to serve on the council for a two-year term.
“I’m very proud to support the President’s Advisory Council on Doing Business in Africa,” said Richenhagen. “AGCO has been doing business in Africa for many decades. We focus on mechanization, grain storage, protein production and financing solutions. In addition, we are also providing local farmers with education and training in core agricultural practices. Africa will play a significant role in the future of global food security and therefore it is vital to move African agriculture forward. We have taken on the challenge to transform African agriculture into a highly productive, efficient, competitive and sustainable system.”
Richenhagen joined AGCO 12 years ago as president and CEO, and in August 2006 he was appointed to chairman of the board. Richenhagen’s career has spanned a wide range of executive and managing directorships positions. In addition to currently serving as the chairman of the German American Chambers of Commerce of the U.S. (GACCs), Richenhagen is a member of the U.S. Chamber of Commerce Board of Directors. He has served as chairman of the Board of the Association of Equipment Manufacturers (AEM) and is a Life Honorary director of AEM.
In Africa, AGCO has invested in manufacturing capabilities in Algeria and in improving distribution and parts support in South Africa. In Zambia, AGCO has launched its first Future Farm to train local farmers and dealers in modern farm practices. AGCO also hosts the annual AGCO Africa Summit to promote international investments in African agriculture.