Bunge North America is one of the largest agribusiness and food ingredient companies in the country. It is the North American component of parent company Bunge Limited, and it has recently announced that George Allard will be taking the position of CFO for Bunge North America.Changes in the Ranks
The change of position for Allard is directly on the heels of his predecessor’s promotion. Todd Bastean, the former CFO, was promoted to CEO for Bunge North America on June 1, 2013. The position of CFO was held vacant for a while as Bunge North America took its time selecting who would fill it.
The company is quite confident in its new selection. In fact, Todd Bastean had this to say about Allard’s ability to do the job:
“George’s experience leading key business units, along with his financial background, provides the right skills for this position, and we look forward to his continued leadership,” said Bastean.
Allard is a familiar name around the Bunge corporation. He joined the company back in 2004 to serve as treasurer, and even held a previous CFO position for operations in Canada, as well as for Bunge’s operations in Latin America. After this, he returned to Bunge North America to work as head of the milling operations before moving up to become general manager and vice president of Bunge’s North American oils business.
The path to becoming a CFO is often a rather slow one and can require a great deal of movement and flexibility. Over the past ten years, George Allard held four different positions before landing the position of CFO of North American operations.
Individuals who have a keen sense of finance and interest in the position should consider the value of staying with a single company for a period of time in order to prove acumen and loyalty. In today’s job market, it’s easy to jump from place to place in search for the coveted CFO position, but sometimes slow and steady does still win the race.
In 2012, Bunge North America reported a $64 million net income, which means that Allard will have large shoes to fill, but he appears to have the confidence of his company behind him.