NEWS FEED & ADDITIVE MAGAZINE April 2024 93 Petco Health and Wellness Company, Inc. announced the company's Board of Directors appointed R. Michael Mohan to serve as Interim Chief Executive Officer (CEO). Ron Coughlin has stepped down as Petco's Chief Executive Officer, Chairman, and member of the Board of Directors. He will serve as an advisor to the board to support the leadership transition. The board is conducting a comprehensive search for a permanent CEO with the support of a leading global executive search firm. According to Petco’s statement, Mohan is a highly accomplished and seasoned retail leader who has served on the Petco Board since March 2021 and as Lead Independent Director since July 2021. As the former President and Chief Operating Officer of Best Buy Co., Inc., he was responsible for all aspects of global operations, including sales, merchandising, marketing, supply chain management, services, and new business initiatives across more than 1,000 stores and online channels worldwide. "Mike's highly successful track record across multiple segments of the retail industry, deep knowledge of Petco and strong operational skills make him the ideal executive to ensure a seamless transition as Petco moves forward," said Cameron Breitner, member of the Petco Board of Directors. Read more>> Bunge and Chevron unveiled the approval of a final investment decision for their joint venture, Bunge Chevron Ag Renewables LLC, to build a new oilseed processing plant adjacent to its existing processing facility located on the Gulf Coast in Destrehan, Louisiana, USA. The announcement was celebrated with a groundbreaking event at the site. According to the companies' statement, the plant features a flexible design, intended to allow it to process soybeans as well as softseeds, including novel winter oilseed crops, such as winter canola and CoverCress, among others. Expected to be operational in 2026, the processing facility aims to add scale and efficiencies to Bunge Chevron Ag Renewables, that will allow the company to better meet the increased market demand for renewable fuel feedstocks. The plant is also intended to support the growing feed and protein markets through the production of meal products. “This new facility is another step in our long-term strategy to improve our capabilities at scale for the renewable fuels market and to reduce the carbon intensity of our own and our customers' value chains,” said Luciano Salvatierra, Bunge’s Senior Vice-President, Renewable Fuels. “Having greater ability to process softseeds, including novel winter oilseed crops, will help advance our innovation in the feedstock space and meet the growing demand for renewable fuels,” noted Stacey Orlandi, director, Manufacturing, Chevron Renewable Energy Group. “Investments like this one help support farmers and consumers while reducing the lifecycle carbon intensity for transportation fuels.” Read more>> Petco announces R. Michael Mohan as Interim CEO Bunge Chevron Ag Renewables to build oilseed processing plant R. Michael Mohan
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