May 15, 2019 / 9:40 PM / 7 months ago

New Bunge CEO looks to downsize company before growing again

NEW YORK, May 15 (Reuters) - The new chief executive of oilseed processor Bunge Ltd said on Wednesday that the company needs to downsize in the short term and earn “the right to grow again,” by avoiding costly mistakes and operating with financial discipline.

“We’re going to let the numbers drive what should happen for us. First, we need to shrink,” Chief Executive Greg Heckman said at a BMO investors conference in New York. “We need to get the platform performing, improve the returns and position ourselves for the right to grow again.” (Reporting by Rod Nickel in New York Editing by Leslie Adler)

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