Market News & Headlines >> Cargill Names New CEO
Coming off the most profitable year in the company’s history, Cargill announced a new CEO on Monday.
Brian Sikes, current chief operating officer, will take over the role Jan. 1. He will replace Dave MacLennan, who has been Cargill’s CEO and Chairman since 2013. Sikes, who becomes only the 10th CEO for Cargill in the company’s 157-year history, led the company’s protein and salt businesses prior to becoming COO.
Cargill is the largest privately held company in the United States, ahead of second-place Koch Industries, according to a 2021 ranking by Forbes Magazine. Cargill’s 2022 revenue of $165 billion was up from 134.4 billion in 2021. Earnings for the fiscal year ended in May hit a record 6.68 billion, according to Bloomberg.
MacLennan will stay with the Minnesota-based company and has been named Executive Chair of the Board.