ST. PAUL, Minn., May 22, 2017 /PRNewswire/ -- CHS Inc. (NASDAQ:
CHSCP, CHSCO, CHSCN, CHSCM, CHSCL), the nation's leading
farmer-owned cooperative and a global energy, grains and foods
company, announced today that its board of directors has elected
Jay D. Debertin as president and
chief executive officer (CEO) of CHS. Debertin succeeds
Carl Casale, who led CHS during
record performance levels and expansion.
During Casale's seven years with the company, CHS returned
$3 billion to its owners, invested
$9 billion in new capital
expenditures and nearly doubled the size of its balance sheet from
$8.7 billion in 2010 to $17.3 billion at the end of fiscal 2016. Casale
focused on prudent fiscal management and enhancing management
systems at the company.
"As we take our cooperative into its next chapter, we are
confident that Jay is the right leader," said Dan Schurr, chairman of the CHS Board of
Directors. "Jay's experience in achieving operational excellence
and driving results fits squarely with our unwavering goal to
deliver returns to our member-owners now and for the long
term."
Debertin previously served as executive vice president and chief
operating officer for the company's diverse energy operations and
processing food ingredients business. He joined CHS in 1984 and has
held a variety of leadership positions within the organization in
energy, trading and risk management, transportation, and
agricultural processing. Jay also serves as chairman of Ventura
Foods.
"CHS is strong today because we drive the business with a
central purpose in mind and that is to help our cooperatives and
farmers grow," said Debertin. "I look forward to working with our
talented group of employees as we concentrate on world-class
execution across our system. I see growth and strength ahead for
our business."
Debertin, who is originally from East
Grand Forks, Minn., holds a bachelor's degree in economics
from the University of North Dakota in Grand
Forks, N.D., and an MBA from University
of Wisconsin – Madison.
CHS Inc. (www.chsinc.com) is a leading global agribusiness owned
by farmers, ranchers and cooperatives across the United States. Diversified in energy,
grains and foods, CHS is committed to helping its customers,
farmer-owners and other stakeholders grow their businesses through
its domestic and global operations. CHS, a Fortune 100 company,
supplies energy, crop nutrients, grain marketing services, animal
feed, food and food ingredients, along with business solutions
including insurance, financial and risk management services. The
company operates petroleum refineries/pipelines and manufactures,
markets and distributes Cenex® brand refined fuels,
lubricants, propane and renewable energy products.
This document and other CHS Inc. publicly available documents
contain, and CHS officers and representatives may from time to time
make, "forward–looking statements" within the meaning of the safe
harbor provisions of the U.S. Private Securities Litigation Report
Act of 1995. Forward–looking statements can be identified by words
such as "anticipate," "intend," "plan," "goal," "seek," "believe,"
"project," "estimate," "expect," "strategy," "future," "likely,"
"may," "should," "will" and similar references to future periods.
Forward–looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
CHS current beliefs, expectations and assumptions regarding the
future of its businesses, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward–looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of CHS control. CHS actual results and financial
condition may differ materially from those indicated in the
forward–looking statements. Therefore, you should not rely on any
of these forward–looking statements. Important factors that could
cause CHS actual results and financial condition to differ
materially from those indicated in the forward–looking statements
are discussed or identified in CHS public filings made with the
U.S. Securities and Exchange Commission, including in the "Risk
Factors" discussion in Item 1A of CHS Annual Report on Form 10–K
for the fiscal year ended August 31,
2016. Any forward–looking statements made by CHS in this
document are based only on information currently available to CHS
and speak only as of the date on which the statement is made. CHS
undertakes no obligation to publicly update any forward–looking
statement, whether written or oral, that may be made from time to
time, whether as a result of new information, future developments
or otherwise.
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SOURCE CHS Inc.