Olam International will reorganize its diverse business portfolio to create two new operating groups, Olam Food Ingredients and Olam Global Agri, for further growth in line with key consumer trends and market opportunities.
Olam Food Ingredients (OFI) offers sustainable, natural, value-added food products and ingredients so that consumers can enjoy the healthy and indulgent products they love. It consists of Olam’s industry-leading businesses of cocoa, coffee, edible nuts, spices and dairy.
Olam Global Agri (OGA) is a leading player in high-growth Asian and African countries supplying food, feed and fiber to meet rising demands and a shift to protein-based diets. This group includes the differentiated businesses of grains and animal feed, edible oils, rice, cotton and commodity financial services.
A Shekhar has been appointed as the CEO of OFI and will, therefore, step down from his current role as group chief operating officer of Olam effective inmediately. Sunny Verghese will hold charge as CEO of OGA and Olam International, in addition to continuing as Group CEO.
The grains and animal feed business is built upon a configuration of destination processing assets in wheat milling and animal feed production in Africa and a global footprint in grains supply chain and bulk ocean freight business. It has become established as the leading animal feed and poultry breeder in Nigeria where it operates a poultry breeding farm, day-old-chick hatchery and animal feed mills, which provide poultry and fresh-water fish feed to local farmers.