GA-AGCO
AGCO, a worldwide manufacturer and distributor of agricultural equipment and solutions (NYSE:AGCO), today announced that Martin Richenhagen has chosen to retire as Chairman, President and Chief Executive Officer on December 31, 2020. The Company further announced that its Board of Directors has appointed Eric Hansotia, currently AGCO’s Senior Vice President and Chief Operating Officer, to succeed Mr. Richenhagen as Chairman, President and Chief Executive Officer effective January 1, 2021. In addition, Mr. Hansotia has been elected to the Board of Directors, effective immediately.
Martin Richenhagen joined AGCO in 2004 as President and CEO and was named Chairman of the Board of Directors in 2006.
“It’s been my greatest privilege to serve alongside my AGCO colleagues for the past 16 years,” stated Mr. Richenhagen. “Their dedication, integrity, innovativeness and commitment to our customers are what make AGCO such an extraordinary Company, and I’m proud to have been part of its history. I have tremendous confidence in Eric, the Board, our employees and our dealer network, and believe that AGCO’s best days are yet to come.”
Speaking on behalf of AGCO’s Board of Directors, Gerald Shaheen, AGCO’s independent Lead Director, stated, "Martin has served AGCO with great distinction through the years, and we are enormously thankful for his contributions to the Company. Under his leadership, AGCO evolved into an integrated global manufacturer of high-tech, sustainable, agricultural solutions to serve our farmers around the world. AGCO expanded its product portfolio, entered into new markets, consolidated product platforms and modernized facilities. Driven by strong financial performance under his direction, AGCO improved to an investment grade credit rating while initiating a dividend and a substantial share re-purchase program. Martin has been a model of corporate leadership and integrity in the industry. We wish him well in his retirement and look forward to new levels of success under Eric’s leadership.”
“The Board and I are confident that Eric is the right person to build on AGCO’s solid foundation,” added Mr. Richenhagen. “Eric is a seasoned leader with broad industry knowledge, making him uniquely qualified to lead AGCO into the future. Eric has made significant contributions to AGCO’s success over the past seven years, most recently leading the Company through the unique challenges presented by COVID-19. His strong strategic view on the future trends in global agriculture along with his diverse operational experience will enable AGCO to successfully meet the changing needs of our customers.” Mr. Hansotia joined AGCO as Senior Vice President, Global Crop Cycle and Fuse Connected Services in 2013 and has served in the role of Senior Vice President and Chief Operating Officer since 2019. Prior to joining AGCO, Mr. Hansotia had a successful 20-year tenure with Deere & Company where he held leadership positions including Senior Vice President, Global Harvesting and Vice President of Global Crop Care.
Mr. Hansotia shared, "I want to express my gratitude to both Martin and the Board of Directors for their confidence in my ability to lead AGCO into the future. Together with our talented team, I look forward to helping our global farmers sustainably feed the world through smart, innovative agricultural solutions. I believe farmer-driven innovation is the key to unlocking value for our employees, dealers and shareholders, and I look forward to building on Martin’s legacy as we realize AGCO’s bright future.”
About AGCO
AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agricultural solutions and delivers high-tech solutions for farmers feeding the world through its full line of equipment and related services. AGCO products are sold through five core brands, Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra®, supported by Fuse® smart farming solutions. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of $9.0 billion in 2019. For more information, visit http://www.AGCOcorp.com . For company news, information and events, please follow us on Twitter: @AGCOCorp. For financial news on Twitter, please follow the hashtag #AGCOIR.
Please visit our website at www.agcocorp.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20200820005565/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Taylor Wessing Diversifies Its International Strategy17.12.2025 15:05:00 CET | Press release
International law firm Taylor Wessing is set to diversify its strategy within its international alliance, in order to push international growth and innovation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251217415857/en/ Dr. Oliver Bertram, Global Co-Chair at Taylor Wessing The English part of the partnership is seeking a merger with US law firm Winston & Strawn and would – depending on a corresponding partner decision, which is still pending – leave the Taylor Wessing alliance at the end of April 2026. Both parties wish to continue their successful joint international client work unchanged. Therefore, collaboration between Taylor Wessing and future Anglo-American firm Winston Taylor will continue seamlessly based on a cooperation agreement, ensuring that clients will not experience any change in their collaboration with Taylor Wessing. With the firm’s new open strategy, Taylor Wessing equally meets the strategic requirem
ISACA to Lead Global Credentialing for CMMC Cybersecurity Framework as International Cyber Readiness Standards Rise17.12.2025 15:00:00 CET | Press release
ISACA appointed to certify professionals assessing organisations against the US Department of War’s (DoW) Cybersecurity Maturity Model Certification (CMMC) programme.New requirements mean that all global businesses supplying to US DoW will need to be compliant with this framework, impacting over 200,000 organisationsAppointment supports global demand for consistent, verifiable cyber maturity amid escalating cyber threats and growing assessor shortages.The Cyber AB remains the official accreditation body for the CMMC programme, authorizing the CAICO and other CMMC ecosystem parties As cyber threats escalate and governments raise expectations around operational resilience, ISACA has been appointed to lead the global credentialing programme for the U.S. DoW’s Cybersecurity Maturity Model Certification (CMMC) program. The appointment positions ISACA – the international association for cybersecurity, audit and digital trust – as the exclusive CMMC Assessor and Instructor Certification Organ
ASN Bank Signs a Contract With HCLTech to Accelerate Digital Transformation and Enhance Customer Experience17.12.2025 14:43:00 CET | Press release
HCLTech, a leading global technology company, today announced that it has been selected as a strategic partner by ASN Bank (formerly de Volksbank), the fourth-largest retail bank in the Netherlands. As part of its new strategy ‘Simplify and Grow’, ASN Bank aims to modernise and standardise its IT architecture, which will involve consolidating IT services, simplifying the vendor landscape and building a future-ready organisation. Under the multi-year agreement, HCLTech will support ASN Bank’s enterprise applications, and streamline services through a distributed delivery model to enhance efficiency and customer experience. Michel Ruijterman, Chief Information Officer, ASN Bank: “By signing this agreement , HCLTech’s proven track record in delivering scalable, innovative solutions tailored to the financial services sector means we can now confidently press on with streamlining our business by reducing the number of existing products and aligning the underlying processes and systems under
Riskified Announces Ascend 2026: “Intelligence in Motion” for the Next Era of Ecommerce17.12.2025 14:30:00 CET | Press release
From North America to the Asia-Pacific, Ascend 2026 will bring together leaders from the fraud and risk management community to define innovation-led ecommerce growth strategies Riskified (NYSE:RSKD), the leader in AI fraud and risk management for ecommerce, has announced that its premier global summit Ascend will once again be held as a global event series in 2026. Kicking off with North America (May) and continuing to Europe (June), Australia (August), China (September), and Japan (October), Ascend will convene each region’s largest merchants, industry experts, and technology leaders to discover the latest AI advancements and innovative strategies to propel ecommerce success. “Having pioneered using AI to fight ecommerce fraud and policy abuse over the past 10+ years, it’s equally exhilarating as it is concerning to witness the dramatic impact AI and agentic commerce are making on our industry. As risk grows more complex and shopper expectations rise, fraud teams and customer experie
Sinovac: Antigua Court Makes Interim Order Giving Board Control of the Company until the Trial of the Disputed 2025 Shareholder Meeting17.12.2025 13:00:00 CET | Press release
Sinovac Biotech Ltd. (NASDAQ: SVA) (SINOVAC or the Company), a leading provider of biopharmaceutical products in China, today announced that the Antigua High Court has ordered that the directors Mr. Simon Anderson, Mr. Shan Fu, Mr. Shuge Jiao, Mr. Yuk Lam Lo, Mr. Yumin Qiu, Mr. Yu Wang, Mr. Andrew Y. Yan and Mr. Yin Weidong (collectively, the Board), will comprise the Board of the Company until the trial listed in late April/early May 2026. The Antigua High Court decision arises from a hearing that took place on 27 October 2025, at which applicants SAIF Partners IV L.P., OrbiMed Partners Master Fund Limited and 1Globe Capital LLC each sought injunctions to confirm the composition of their respective favoured Boards, pending determination of a dispute over the outcome of the Company’s Special Shareholders Meeting on 8 July 2025 (the SSM Dispute). The hearing of the SSM Dispute has been scheduled to take place in the Antigua High Court in late April/early May 2026, with judgment to be de
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom