Ceres Global Ag Strengthens Management Team with Key Appointments
Minneapolis, MN, May 23, 2017 – Ceres Global Ag Corp. (“Ceres” or the “Company”) (TSX: CRP) announced today that it has further strengthened its commercial and financial teams with the appointment of two industry veterans bringing 45 years of combined experience in trading, risk management and accounting. The appointments are consistent with the Company’s goal of hiring talented individuals who can execute on Ceres’ growth strategy focused on lowering fixed cost per bushel handled while increasing volume throughout the Company’s network of facilities and beyond.
John Carroll has been named Vice President, Trading and Risk Management effective June 1, 2017, and Kyle Egbert has been appointed Vice President of Finance effective July 10, 2017.
Mr. Carroll joins Ceres from Guardian Energy Management, a privately-held, mid-sized ethanol processing company, where he was the Director of Commodity Risk Management. Previously, he spent more than 20 years at Cargill and Black River, where he held many different roles within the Grain and Oilseeds, Natural Gas, and Thermal Energy Supply Chain Business Units. Mr. Carroll is a graduate of Yale University and the University of Minnesota Carlson School of Management.
“I’m very pleased to welcome John to our Company,” said Robert Day, CEO of Ceres Global Ag. “His extensive trading and merchandizing experience across agriculture and energy sectors ensures that we have the skill set needed to successfully execute on our growth strategy. John’s maturity and leadership are exactly what the company needs to develop our team of young and talented traders and merchandizers.”
Mr. Egbert joins from Royal Dutch Shell where he was the Global Derivative Technical Account Manager. Supervising a team in the US and London, his work entailed analyzing creative and innovative ways to generate value for the trading organization. He also has an extensive working knowledge with compliance and controls. Mr. Egbert holds an MBA from the University of Texas at Austin and a Master’s Degree in Accounting from the University of Utah.
“We are very excited about Kyle’s decision to accept this position with Ceres,” Mr. Day added. “Kyle’s large company experience and formal training will be extremely valuable as we continue to grow our business.”
Messrs. Carroll and Egbert will be based in the Company’s headquarters in Minneapolis.
About Ceres Global Ag Corp. (ceresglobalagcorp.com)
Headquartered in Minneapolis, Ceres Global Ag Corp. is focused on two primary businesses: a Grain Storage, Handling and Merchandising unit; and a Commodity Logistics unit.
Ceres’ Grain Storage unit is anchored by its 100% ownership of Riverland Ag Corp., a collection of eight grain storage and handling assets in Minnesota, New York, Saskatchewan and Ontario having aggregate storage capacity of approximately 44.8 million bushels as at March 31, 2017.
Ceres’ Commodity Logistics unit is focused on the development of a Commodity Logistics Centre in Northgate, SK. The Northgate Commodities Logistics Centre is a state-of-the-art grain, agriculture services and oilfield supplies transloading site.
Ceres also has a 25% interest in Stewart Southern Railway Inc., a short-line railway with a range of 130 kilometres that operates in South-eastern Saskatchewan and a 17% interest in Canterra Seeds, a Canadian-based seed development company.
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