Grain trader Gavilon cuts senior U.S. executives: sources [Reuters]
MARUBENI CORP UNSP/ADR (MARUY)
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Source: Reuters
Grain trader Gavilon cuts senior U.S. executives: sources - Reuters 2 Min Read SAO PAULO (Reuters) - U.S. commodities trader Gavilon Group LLC, owned by Japan’s Marubeni Corp, has dismissed at least two senior executives, two people familiar with the matter said, amid a reshuffle that affected the firm’s Brazil unit this year. The shakeup at Gavilon is the latest course correction in the region for Marubeni, one of several U.S. grain merchants struggling due to the trade war with China and historic flooding in Midwestern states. Columbia Grain Trading Inc., another U.S.-based Marubeni unit, halted soybean sales to China in July because the trade war hurt profits. The suspension was believed to be aimed at cutting Marubeni’s risk exposure. Kevin Lewis, chief financial officer at Gavilon in the United States, and Tasso Sideris, VP and general manager for global agriculture, were asked to leave the firm, the sources said, requesting anonymity because the news was not public. The reasons
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