MAUMEE,
Ohio, Aug. 19, 2024 /PRNewswire/ --
The Andersons, Inc. (Nasdaq: ANDE), announces Bill Krueger, the company's current Chief
Operating Officer (COO), will succeed Pat
Bowe as President and Chief Executive Officer (CEO)
effective October 1, 2024. Mr.
Krueger also will be appointed to The Andersons Board of Directors.
Mr. Bowe will remain as the company's Chairman of the Board.
"Bill has been integral to our strategic growth during his
tenure with The Andersons, helping to position the business to take
advantage of new opportunities across the agriculture supply
chain," said Bowe. "As COO, he has been immersed in our core
operating segments, and has demonstrated exceptional leadership
with a proven track record for creating value for shareholders.
After nearly a decade as CEO, I am proud to pass the baton to
Bill."
Pat Bowe joined The Andersons in
2015 as the company's first non-family member CEO. Under his
leadership the company completed its largest acquisition, achieved
record revenue approaching nearly $17
billion in 2022, grew adjusted EBITDA from approximately
$120 million to over $400 million by 2023, and steadily increased
dividend payments, retaining the company's track record of 112
consecutive dividends.
"I am honored to succeed Pat as CEO of The Andersons," said
Krueger. "The Andersons continues to excel by leveraging its deep
expertise in the agricultural supply chain, strong customer
relationships, and consistent delivery of strong results for all
our stakeholders. Leading a company with such a rich culture and
foundational principles is truly a privilege. I am eager to explore
new opportunities to further strengthen the legacy and leadership
that have driven the company's growth for over 77 years."
Bill Krueger joined
The Andersons in 2019 as part of its acquisition of Lansing
Trade Group, where he served as president and CEO for nearly 14
years. Prior to serving as The Andersons COO, Krueger was president
of the company's trade and processing business. He began his career
as a grain merchant, where he honed his expertise in the commodity
industry, with a strong focus on business development, energy
markets, risk management, and corporate finance. Krueger earned his
Bachelor of Science in Agribusiness from the University of Nebraska-Lincoln and Master of
Business Administration in finance from DeVry University's
Keller Graduate School of Management.
He currently serves on the executive committee of the National
Grain & Feed Association (NGFA) board of directors, as well as
on the board of Children's Mercy Hospital in Kansas City, Missouri.
About The Andersons, Inc.
The Andersons, Inc., named
for 2024 to Forbes list of America's Most Successful Small
Companies, Newsweek's list of America's Most Responsible
Companies, and one of The Americas' Fastest Growing Companies by
the Financial Times, is a diversified company rooted in
agriculture that conducts business in the commodity merchandising,
renewables, and nutrient & industrial sectors. Guided by its
Statement of Principles, The Andersons is committed to providing
extraordinary service to its customers, helping its employees
improve, supporting its communities, and increasing the value of
the company. For more information, please visit
www.andersonsinc.com.
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SOURCE The Andersons, Inc.