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French sugar maker Tereos picks former deputy as new chairman

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French sugar maker Tereos picks former deputy as new chairman
FILE PHOTO: The Tereos logo is displayed at a sugar beet processing plant in Origny-Sainte-Benoite, France, March 20, 2019. REUTERS/Benoit Tessier   -   Copyright  Benoit Tessier(Reuters)
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PARIS (Reuters) – French sugar maker Tereos said on Thursday its supervisory board had elected Jean-Charles Lefebvre as its new chairman a day after his predecessor lost his board seat at a general meeting.

Lefebvre was previously deputy chairman of Tereos, a farmer-owned cooperative and one of the world’s largest sugar makers.

Tereos’ regional delegates partly renewed the supervisory board at a general assembly in northern France on Wednesday. The group said the new board mostly supported management’s plans, although Chairman Francois Leroux lost his seat.

Brice Bijot, also a previous member of the board, was elected as new deputy chairman, Tereos said.

“The supervisory board wishes to stress its common desire to work together in the interest of 12,000 cooperative partners and 25,000 employees,” it said in a statement.

Tereos has been shaken for more than a year by an internal feud fuelled by cooperative members concerned by the group’s plunging profits and high debt.

(Reporting by Sybille de La Hamaide)

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