Cargill’s president and chief executive officer, has been named as chairman of the board in addition to his current responsibilities.

He replaces Gregory Page, who will step down as executive chairman and continue to serve on the board as an executive director of the company.

“The board appreciates David’s leadership and management of the company. We have the highest confidence he will deliver long term growth for Cargill. Now is the time for him to lead the board as well,” Page said.

MacLennan, 56, joined Cargill in 1991 and has held various leadership positions within the financial, risk management, energy and animal protein businesses in the United States, London and Geneva.