On the move

Jansen resigns, Jingtao rises to Cofco Agri CEO

Matt Jansen has quit as CEO of COFCO Agri Ltd, the international commodity trading unit of COFCO Corp. The firm has named Jingtao Chi, COFCO Agri's vice-president, as Jansen's replacement. Jansen's departure is seen as a setback to the ambitions of China's biggest food company to create a global agriculture merchant. Jansen became CEO less than two years ago, but left last week for personal reasons, the company said in a statement. He will still serve as an interim adviser. Jingtao, known as Johnny, has worked at COFCO for 14 years and led its import and export business for the past seven years.

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