AGCO Announces Chief Communication Officer Transition
AGCO has announced that Chief Communication Officer Ulrich Stockheim will leave the company effective December 31, 2020, to pursue other business interests. Stockheim joined AGCO in March 2015 and significantly contributed to enhancing the company's global profile. His departure raises questions about the future of AGCO's corporate communication strategy, with an announcement regarding his successor expected later. AGCO, a leader in agricultural solutions, reported net sales of $9 billion in 2019, operating under brands like Challenger, Fendt, and Massey Ferguson.
- Stockheim significantly raised AGCO's global profile during his tenure.
- AGCO maintains a strong position in the agricultural equipment market with $9 billion in net sales (2019).
- Departure of a key executive may create uncertainty around AGCO's corporate communications strategy.
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DULUTH, Ga.--(BUSINESS WIRE)--AGCO, a worldwide manufacturer and distributor of agricultural equipment and solutions (NYSE:AGCO), today announced that Chief Communication Officer Ulrich Stockheim has chosen to pursue business interests outside of AGCO effective December 31, 2020.
Mr. Stockheim joined AGCO in March 2015 as Chief Communications Officer and has been responsible for its global, corporate communications including press and media, investors, political and non-government organizations since his appointment. Prior to joining AGCO, Mr. Stockheim served as an external professional advisor to AGCO and its Chairman, President and CEO Martin Richenhagen for many years as a managing partner of the communications consultancy PR firm Stockheim Media.
“Uli has played an instrumental role in raising AGCO’s profile around the world throughout his engagement with AGCO. His extensive knowledge and experience has contributed to our recognition as a world leader in providing sustainable, high-tech solutions to farmers feeding the world. I personally benefitted from his guidance, expertise and friendship,” stated Mr. Richenhagen.
Mr. Stockheim added, “It’s been a great pleasure to contribute to global food security while raising the visibility of AGCO and its outstanding brand portfolio. While I have decided to dedicate more time to my other business interests, I am proud of our achievements over the past several years and look forward to AGCO’s ongoing success.”
An announcement about the transition of the corporate communication responsibility will be made at a later date.
About AGCO
AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agricultural solutions and delivers high-tech solutions for farmers feeding the world through its full line of equipment and related services. AGCO products are sold through five core brands, Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra®, supported by Fuse® smart farming solutions. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of
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