MacMillan offers the closest look yet at the private lives behind the largest privately held company in the world.[27]. Cargill has 6 board members and advisors, including Bernard Poussot. He is past-chair of the board of Big Brothers Big Sisters of America, past president of the Northern Star Council of the Boy Scouts of America and continues to serve on both boards as well as the board of Alight (formerly known as the American Refugee Committee). Explore institutional-grade private market research from our team of analysts. According to Forbes, 8 of the family members are billionaires. Today the company sells and markets food, trades commodities and provides financial risk management. [1] The "family reportedly keeps 80% of Cargill Inc.'s net income inside the company for reinvestment annually. [4] Richard Cargill was also appointed to the Cargill board of directors to replace a retired Cargill relative. [1] Descendants of Cargill and MacMillan have owned common equity in the "agribusiness giant" Cargill Inc, one of the largest privately owned corporations in the United States,[2][3] for over 140 years. [33] Their fortunes were all listed as "inherited". This button displays the currently selected search type. Austen Cargill (died 1957) married Anne Ray. Join now Sign in . Cargill's North American protein business, headquartered in Wichita, has donated $500,000 to support the relocation of the Kansas African American Museum. Brent Reitz | Board Member Brent Reitz was named President of Adventist HealthCare's Post-Acute Care Services division, a combination of Rehabilitation, Home Care and Care Navigation service lines, in December of 2019. 'Daisy Jones & The Six' is breaking records and topping charts. [11][12], The family was also the majority owner of The Mosaic Company,[11] the largest producer of potash and phosphate fertilizer in the United States. Cargill provides food, agriculture, financial and industrial products and services to the world. [7] In 2009, Forbes listed the net worth of Cargill MacMillan Jr at an estimated $4.3 billion. [1] There are approximately 90 family members that together own 88% of the company. [34], Cargill heiress Marion MacMillan Pictet (19322009) ranked #176 on Forbes list in 2010 with a net worth of $4.5 billion,[43][44][45] an increase over $4.3 in 2009. Their son, Andrew C. Liebmann, is currently on the Cargill board of directors. [16]:xiii The success of the company under his tenure from 1936 to 1960 was due in large part to the team he formed with a second-generation family member, MacMillan Jr's uncle, Austin Cargill, who had joined the company in 1913,[16]:245 and Cargill MacMillan Sr. MacMillan Jr, who was a "longtime" member of Cargill Inc board of directors, had "no day-to-day role in the company". [33], Marianne Cargill Liebmann's net worth was $3.1 billion in 2020. He received a bachelors of science degree and a doctorate in electrical engineering from the University of London, Kings College. [30] A new generation of the Cargill family was appointed to the board of directors, according to the Wall Street Journal. "[3] As the world economy collapsed and the price of fertilizer decreased, the "food family's fortune" suffered. The most common ethnicity among Cargill executive officers is White. NatureWorks polylactide (PLA)1 is a versatile polymer produced by Cargill Dow LLC. In 1936, when Cargill Incorporated was formed with the merger of various Cargill businesses, John MacMillan, Sr. handed the presidency to a third generation of the Cargill-MacMillan family, his son John MacMillan, Jr.[18] By this time, Cargill Inc had offices in Canada and Italy, as well as many subsidiaries across the United States. [11] Cargill Inc revenues remained at $117 billion. This represents about $6 billion, which would make these two charities "two of the wealthiest grant makers in the United States. "[14] In 2012 Margaret Anne Cargill posthumously earned the #1 spot in The Chronicle of Philanthropy's annual list of America's 50 most generous donors, beating George Soros, Michael Bloomberg and Paul Allen. White is the most common ethnicity company-wide. Cloudflare Ray ID: 7a301f3e0f147719 The Cargill-MacMillan family owns Cargill, one of America's largest private companies with revenues of $114.6 billion. The Cargill family, also known as the Cargill-MacMillan family, refers to the multi-generational descendants of the American business executive William Wallace Cargill (December 15, 1844 October 17, 1909) and his son-in-law John H. MacMillan Sr. [11], By 2009, the family company, Cargill Inc controlled "food from stable to table" including "animal feed, meat, [and] crops" and operated "large commodity trading and risk management operations". [7], The exact wealth of the family is unknown, as the Cargill company is a privately owned business entity with no obligation to disclose exact ownership. This is a profile preview from the PitchBook Platform. You can email the site owner to let them know you were blocked. To view Cargills complete valuation and funding history, request access, To view Cargills complete patent history, request access, Youre viewing 5 of 133 executive team members. [40] MacLennan, who had made major changes to Cargill Inc, also moved the company's headquarters from the 85-year-old lakeside offices in a mansion by a lake in Wayzata, Minneapolis to more "mundane" office space nearby. "Ginni led the reinvention of IBM for the era of cloud and data, by realigning their portfolio through organic and acquired growth. Additionally, Ishrak joined the board of Intel in January 2020 as an independent chairman. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Company profile page for Cargill Inc including stock price, company news, press releases, executives, board members, and contact information PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. Cargill serves customers worldwide. [16]:xiii Until 1960, when Edwin Kelm was named as president of Cargill Inc, the company's history had been marked by "family complexity". The company's products include grains and oilseeds and provides farmer services and risk management solutions, as well as offers animal nutrition, biofuels, meat and poultry, food, and industrial products. Cargill is 37% female and 63% male company-wide. www.cargill.com Formerly Known As W.W. Cargill and Brother Ownership Status Privately Held (backing) Financing Status Private Debt Financed Primary Industry Other Financial Services Other Industries Other Agriculture Primary Office Post Office Box Number 9300 Minneapolis, MN 55440-9300 United States +1 (800) 000-0000 Cargill may also be known as or be related to Cargill, Cargill Financial Services International, Inc., Cargill Inc, Cargill Incorporated and Cargill International SA. 11% of the management team is Black or African American. California Weighs $360,000 in Reparations to Eligible Black Residents. Marianne Liebmann studied at Montana State University, where she received a Bachelor of Arts degree. The fourth generation includes the two sons and daughter of James R. Cargill (19232006) and his wife Mary Janet Morse Cargill (died February 5, 2010). Together with farmers, customers, governments and communities, we help people thrive by applying our insights and over 150 years of experience. Lundquist spent 16 years with leading retailer and Cargill . The action you just performed triggered the security solution. The Cargill-MacMillan family is the fourth-wealthiest family in America. The three others are third generationAusten S. Cargill II (58) in Livingston, Montana, James R. Cargill II (60) Birchwood, and Marianne Cargill Liebmann (56) in Bozeman. None of the information on this page has been provided or approved by Cargill. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, CARE, Cargill renew partnership to support women in agriculture during worsening global hunger crisis. [34][35], The third generation also includes the daughter and son of Austen Cargill and Anne Ray. [28] A Star Tribune article at the time of his retirement, said that prior to Staley's tenure, Cargill was considered to be "the agricultural industry's version of the CIA". James died in 2006 and his widow died in 2010, had lived in her hometown, Minneapolis, Minnesota. Neither of the new board members, who were both in their mid-thirties, have ever worked for the company, but "they have taken corporate governance courses". In an article entitled, "The Richest People You've Never Heard Of", Forbes estimated that the fortunes of the MacMillans were worth $1.2 billion each, and that of James and Margaret Cargill were estimated at $1.8 billion each. His retirement from the company and its board on Feb. 1 was announced by Chevron on Sept. 28, 2017. The third generation included the four children of Edna and John H. MacMillan Sr (18691940)John H. MacMillan Jr (18951960) and his wife Marion Dickson (18921980)John Hugh MacMillan III (19282008), Whitney Duncan MacMillan (19302006), and Marion MacMillan Pictet (19302009), who had a daughter, Gwendolyn Sontheim Meyer who had two children. Watson joins six other independent directors on Cargill's board: Richard H. Anderson, president and chief executive officer of Amtrak; Louis R. Chnevert, retired chairman and chief executive officer of United Technologies Corporation; Arthur D. Collins, Jr., retired chairman and chief executive officer of Medtronic, Inc.; Stephen Hemsley, executive chairman of UnitedHealth Group; Bernard Poussot, retired chairman, chief executive officer and president of Wyeth; and Trudy Rautio, retired president and chief executive officer of Carlson. Roger Watchorn is joining the company's executive team as leader of Cargill's Agriculture Supply Chains (CASC) business, which also includes the company's Ocean Transportation and World Trading Group. In announcing the winner Forbes said that "Not only is she almost entirely unknown, but the heiress to the Cargill agribusiness fortune passed away in 2006. She began her career in banking, working at Citibank, Sandler O'Neill, and AmeriBank, respectively. MINNEAPOLIS, Jan. 21, 2021 /PRNewswire/ --Dr.Omar Ishrak, former executive chairman and CEO of Medtronic, has been elected to the Cargill Board of Directors. All Rights Reserved. "[19]:249 The involvement of the family was more in the role of ownership, instead of management and directing. Get the full list, Morningstar Institutional Equity Research, Stabilized steviol glycoside malonic acid esters, President & Regional Director, Asia Pacific (Agriculture), President & Business Unit Leader - Cargill Industrial Specialties, Chairman of Asia Pacific and Head of Corporate Strategy. Even so, with each successive generation, the pieces of the Cargill ownership pie get smaller and smaller. Director of Ecolab since 2015. [33][39] Three of Cargill MacMillan Sr's four children Whitney MacMillan, Alice Whitney MacMillan, and Pauline MacMillan Keinath (born 1934 in Hennepin County, Minnesota),[33] were on "The 400 Richest Americans 2009" with a listed revenue of $4.3 billion each. "[15][11] W. W. Cargill, the "son of Scottish sea captain",[11] was twenty-one years old when he founded the company. Page served as Executive Director of Cargill from 2015 to 2016, Executive Chairman from 2013 to 2015, Chief Executive Officer from 2007 to 2013, and President from 2000 to 2007. The remaining 10 percent was owned by Cargill employees. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Aerospace & Defense category Boeing nominates first Europe-based board member, . Cargill has separately signed a long-term charter deal for two dry bulk ships which can be fuelled by methanol . Mr. We combine 155years of experience with new technologies and insights to serve as a trusted partner for food, agriculture, financial and industrial customers in more than 125 countries. [46][23][32] Sontheim Meyer's inheritance represented an "estimated 7% stake in food giant Cargill. [11], By 2011, Cargill had "nearly $120 billion in revenue and 130,000 employees in 63 countries. The former undrafted free agent's contract includes $1.4 million in remaining guaranteed salary. Will His AI Plans Be Any Different? The Cargill company and familywho had at least 14 billionaireswere "famously quiet", living "extremely private lives, many of them on ranches and farms in Montana," according to Forbes. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. Cargill Board Members Name & TitleBio David MacLennan CEO Chairman and Chief Executive Officer of Cargill, Incorporated, a privately held company and world-leading producer and marketer of food, agricultural, financial, and industrial products and services. Edna Clara Cargill (18711963) married John H. MacMillan Sr (18691940). [10], In 2016, there were major changes in Cargill Inc. under non-family Cargill CEO David MacLennan, which included streamlining the company, making major cuts and divestments, restructuring, and acquisitions.
