Martin Richenhagen, AGCO Corp.‘s top official is one of 15 senior executives to be appointed to the President’s Advisory Council on Doing Business in Africa.
U.S. Secretary of Commerce Penny Pritzker announced the appointments at the Discover Global Markets: Sub-Saharan Africa Business Forum held in Atlanta Nov. 5-6.
Mr. Richenhagen is the chairman, president and CEO of AGCO, the Duluth-based designer, manufacturer and distributer of agricultural machinery and solutions. In 2013, AGCO had net sales of $10.8 billion.
While the company has extensive operations throughout the world, in Africa it has invested in manufacturing in Algeria and in improving distribution and parts support in South Africa.
In Zambia, AGCO has launched its first Future Farm to train local farmers and dealers in modern farm practices. AGCO also hosts the annual AGCO Africa Summit to promote international investments in African.
The advisory council is to advise Ms. Pritzker on strengthening commercial engagement between the United States and Africa, with a focus on advancing the President’s Doing Business in Africa Campaign as described in the U.S. Strategy Toward Sub-Saharan Africa of June 14, 2012. The secretary then is to relay their recommendations to the president.
Mr. Richenhagen said in a news release that AGCO’s focus areas in Africa include mechanization, grain storage, financing solutions and education, which, he called, “integral to Africa’s future food security.”
“We have a growing presence on the ground to contribute towards these areas now,” he added.
Mr. Richenhagen joined AGCO 10 years ago as president and CEO, and in August 2006 he was elected chairman. Previously, he was executive vice president at Forbo International SA, a manufacturing firm headquarted in Switzerland.
He also served as group president for CLAAS KgaA mbH, a global manufacturer of agricultural equipment, headquartered in Germany and he was a senior executive vice president for Schindler Holding GmbH in Germany.
Mr. Richenhagen is a member of the U.S. Chamber of Commerce‘s board of directors and has served as chairman of the board of the Association of Equipment Manufacturers (AEM) and is a life honorary director of the association.
He also has been appointed honorary professor to the faculty of agricultural machinery at the TU Dresden, Dresden University of Technology in Germany, and he served as chef’d equipe of the German Dressage team when the team won a gold medal at the 2008 Olympic Games in China.
Mr. Richenhagen is joined on the advisory council by Walé Adeosun, founder and chief investment officer, Kuramo Capital Management; Dominic Barton – global managing director, McKinsey & Co.; John P. Bilbrey – president and CEO, The Hershey Co.; Shelley Broader – president and CEO, Walmart EMEA;
Teresa Clarke – chairman and CEO, Africa.com; Melissa Cook – founder and managing director, African Sunrise Partners; Karen Daniel, chief financial officer, board member, and leader of Africa Growth Initiative, Black & Veatch; Peter Grauer – chairman, Bloomberg LP;
Jay Ireland – president and CEO, GE Africa; Kevon Makell – president and CEO, SEWW Energy; Edward Mathias – managing director, Carlyle Group; Dow Wilson – president and CEO, Varian Medical System; Rahama Wright – founder and executive director, Shea Yeleen Health and Beauty.
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