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Cargill names first female CFO

Cargill names first female CFO
Jamie Miller is only the second outsider to join the company as CFO in its 156-year-history.

By Isis Almeida

Cargill Inc. has named its first female chief financial officer, the latest in a slew of moves to the executive team at the world’s largest agricultural commodities trader.

Jamie Miller will join 156-year old Cargill at the top finance job on June 1, at the start of the new fiscal year, the Minneapolis-based company said in an emailed statement on Tuesday. She was senior vice president and CFO at General Electric Co. until February 2020 and will succeed David Dines, who retires in September.

Cargill has been reshaping its business for years, investing in high-margin products including beef and fish feed. The closely held firm, which is becoming less of a traditional trader, recently announced a series of changes including appointing its first chief operating officer since 2013 and naming the first Latino woman to its executive team.

“The food system is dynamic and evolving,” said Cargill’s Chief Executive Officer Dave MacLennan. “We know that to feed a growing population in a safe, responsible and sustainable way, we need innovative leaders like Jamie to guide our growth and maintain our strong balance sheet.”

Cargill’s executive team members are usually promoted from within and Miller is only the second outsider to join as CFO. When all the recent changes announced come into force, five out of the 12 members of Cargill’s executive team will be women.

The company reported net income of $3 billion in its fiscal year through May, up 17% from the previous year and its fourth-highest ever, according to audited accounts reviewed by Bloomberg. Last year it stopped publishing its financial statements, ending more than two decades of disclosures.

Miller joined GE in 2008 and held various positions including president and CEO of GE Transportation and chief information officer. She also serves on the board of directors at Qualcomm Inc. Dines will retire on Sept. 2, after 29 years with the company. He has held the CFO position since 2018.

“She is a champion of leveraging data and digitalization to deliver business results,” MacLennan said.

--With assistance from Javier Blas.
© 2021 Bloomberg L.P.
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