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ST. PAUL, Minnesota, Aug. 12, 2014 /PRNewswire/ -- CHS Inc. (NASDAQ: CHSCP) - the nation's leading cooperative and a global energy, grains and foods company - today announced that Mark Palmquist, executive vice president and chief operating officer, Ag Business, will leave the organization effective Aug. 31, 2014, to assume the top leadership role with an Australian grain company. Current CHS strategic leadership team member Shirley Cunningham will assume a new role as executive vice president and chief operating officer, Ag Business and Enterprise Strategy.
Palmquist will become managing director and chief executive officer of GrainCorp, Sydney, Australia, on Oct. 1, 2014.
"We congratulate Mark on this new opportunity and thank him for his significant contributions to CHS and its predecessor organizations," said CHS President and Chief Executive Officer Carl Casale. "During his 35-year career with our organization, he was instrumental in launching and building the CHS global platform and identifying numerous growth opportunities in our grains and foods businesses that add value for the owners of this cooperative."
Cunningham, who joined CHS in 2013 as executive vice president, Enterprise Strategy, will continue to lead the company's Enterprise Strategy functions as well as the newly aligned Ag Business platform which includes International, North America and Agronomy. "Shirley brings significant global strategic and enterprise experience to her expanded role," said Casale. "Aligning our Ag Business and Enterprise Strategy platforms under Shirley's leadership will position us well for continued growth on behalf of our owners."
Newly named leaders for CHS Ag Business platform include:
Cunningham retains responsibility for CHS Information Technology, Human Resources, Enterprise Strategy and Marketing and Communications functions. She assumes her new role on Sept. 1, 2014.
CHS Inc. (www.chsinc.com) is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, grains and foods, CHS is committed to helping its customers, farmer-owners and other stakeholders grow their businesses through its domestic and global operations. CHS, a Fortune 100 company, supplies energy, crop nutrients, grain marketing services, animal feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products.
This document contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that are based on management's current expectations and assumptions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. The company undertakes no obligations to publicly revise any forward-looking statements to reflect future events or circumstances. For a discussion of additional factors that may materially affect management's estimates and predictions, please view the CHS Inc. annual report filed on Form 10-K for the year ended Aug. 31, 2013, which can be found on the Securities and Exchange Commission web site (www.sec.gov) or on the CHS web site www.chsinc.com.