GA-AGCO
20.8.2020 16:34:04 CEST | Business Wire | Press release
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
Compass Pathways Recognized as a 2026 Fierce 50 Breakthrough Honoree2.9.2026 12:30:00 CEST | Press release
Compass Pathways, a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care, has been named a 2026 Fierce 50 Breakthrough honoree by Fierce Pharma, Fierce Biotech and Fierce Healthcare. The Fierce 50 recognizes 50 individuals and organizations driving advancements in medicine, fostering innovation and shaping the future of biopharma and healthcare. Compass is leading a profound shift in the development of new treatment options in mental health care – moving beyond daily or frequent administration toward an option that could potentially provide durable efficacy with just a few treatments a year that could be life changing for patients. Supported by robust clinical data from three late-stage trials involving more than 1,000 participants living with treatment-resistant depression (TRD), COMP360 psilocybin, if approved by the U.S. Food & Drug Administration (FDA), has the potential to establish a new standard of care for a condition affectin
Exeon Analytics expands management team for next growth phase2.9.2026 10:00:00 CEST | Press release
Exeon Analytics is expanding its management team with two new roles. Wayne Jennings takes on the newly created position of Chief Solutions Officer, and Johan Roman becomes Chief Revenue Officer. The appointments fall in the company’s anniversary year, ten years after its founding as an ETH Zurich spin-off, and create the structure for the next growth phase. Exeon Analytics delivers holistic security analytics for organizations facing growing blind spots, encrypted traffic and regulatory pressure. Wayne Jennings joined Exeon Analytics in July 2024 and initially led Support and Engineering. As Chief Solutions Officer, he is responsible for the technical customer lifecycle, from pre-sales and proof of concept through implementation to long-term technical account management, and for the technical enablement of partners. Before joining Exeon Analytics, he was a Senior Manager in Cybersecurity & Privacy at PwC Switzerland, focusing on threat intelligence and incident response. Johan Roman br
euroAtlantic Airways Expands Long-Haul Fleet With a New Airbus A330-300 Aircraft2.9.2026 09:00:00 CEST | Press release
euroAtlantic Airways (“EAA”), a Njord Partners portfolio company and a leading Portuguese aircraft wet-leasing and charter business, is pleased to announce the induction of a new Airbus A330-300 aircraft into its fleet, further strengthening its long-haul widebody capabilities and reinforcing the Company's growth trajectory in the ACMI and charter markets. The Airbus A330-300 is leased from Jackson Square Aviation (JSA). Only 15 years old, the aircraft is configured in a three-class layout of Business, Premium Economy and Economy, accommodating a total of 290 passengers, and features full lie-flat seating in Business Class along with personal in-seat entertainment monitors fitted across the entire cabin. The aircraft, which will be registered as CS-TGI after completing its normal process of approval with authorities, has already completed its delivery journey, departing Kuala Lumpur (KUL) and arriving into Beja, Portugal (BYJ) on 17 August 2026. This aircraft type is known for its effi
Interoperability and Trust Key to AI Commerce: Alipay+ and S&P Global Report2.9.2026 08:33:00 CEST | Press release
Report shows consumers expect mobile wallets to evolve beyond payments into integrated platforms for travel, rewards, commerce and AI-powered servicesCross-border payments remain fragmented with more than half of consumers lacking access to preferred payment and facing uncertainty over payment acceptance AI adoption is accelerating across discovery and planning, but 43% express privacy concerns, and strengthening trust needed to scale AI-enabled commerce A new report by Alipay+, the unified wallet gateway of Ant International, in partnership with S&P Global, reveals a growing "commerce digitalisation gap", with people increasingly expecting seamless mobile payments and intelligent digital assistance, yet friction – from inconsistent payment acceptance to trust in AI – still define their experience. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260901394299/en/ The study, which surveyed 6,000 consumers across nine markets in
Axelspace Announces Partnership with Airbus Defence and Space to Deliver Satellite Imagery to a Broader Market2.9.2026 08:30:00 CEST | Press release
Axelspace Corporation (“Axelspace”), a leading microsatellite company committed to making “Space within Your Reach,” announced today a new agreement with Airbus Defence and Space, a global leader in Earth observation including optical and radar satellite imagery, to provide mid-resolution optical images captured by Axelspace’s Earth observation microsatellites “GRUS.” Under this strategic partnership, we will develop and deliver innovative solutions that meet long-term customer needs for utilizing satellite imagery. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260901360086/en/ GRUS is Axelspace's series of approximately 100 kg-class optical Earth observation microsatellites. GRUS-1 is currently operated as a four-satellite constellation, delivering high-frequency, wide-area imagery. This imagery, together with value-added solutions derived through processing and analysis, supports a broad range of industries, including agr
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