Olam Says Veteran CEO Verghese to Leave Top Job in Reshuffle

Olam Group Ltd.’s co-founder and veteran chief executive officer, Sunny Verghese, will step down this month, marking a major leadership reshuffle as part of the Singapore-based food conglomerate’s years-long overhaul.

Olam, which was founded as a cashew trader in 1989, rose to became one of the world’s biggest agricultural merchants. It embarked on a shake up of its corporate structure in 2020, splitting off divisions including Olam Agri Holdings Pte — which trades bulk grains and edible oils — and OFI, its food ingredients business that handles cocoa and coffee.