As Bunge Ltd.'s CEO steps down, a hurdle is removed to further talks with would-be buyers, said a person familiar with the matter.
Bloomberg reports former CEO Soren Schroder had resisted approaches by suitors including Glencore Plc.
Bunge, which has struggled to navigate a years-long agricultural downturn and more recently a trade war between the U.S. and China, is open to reengaging with both Glencore and Archer-Daniels-Midland Co., the person said.
ADM and a unit of Glencore held merger talks with Bunge in 2017 and earlier this year without reaching a deal. While Bunge isn’t actively seeking new talks, the fact that it doesn’t plan to appoint a new permanent CEO immediately creates an opportunity for rivals to re-approach the 200-year-old firm, the person said.
