AGCO Announces the Retirement of Senior Vice Presidents

Business Wire

DULUTH, Ga.--(BUSINESS WIRE)--

AGCO, Your Agriculture Company (AGCO), a worldwide manufacturer and distributor of agricultural equipment, today announced the retirement of Senior Vice Presidents, Randy Hoffman and David Caplan. The announced changes will be effective on December 31, 2013. "As highly respected business professionals in the industry, we extend our well wishes, appreciation and gratitude to Randy and David for their many years of inspirational leadership and personal dedication to AGCO," said Martin Richenhagen, Chairman, President and CEO of AGCO. “Both men have left a lasting impact on the agricultural industry as well as supporting AGCO as a global leader in the market.”

Randy Hoffman, Senior Vice President, Global Sales & Marketing and Product Management, joined AGCO in 1995 and has been instrumental in the growth of the company through key management positions ranging from regional marketing manager to Senior Vice President. He led the development of multiple global brand strategies, expansion of AGCO’s presence into new and emerging markets and spearheaded the implementation of AGCO’s Sustainability strategy. He also laid the groundwork for AGCO’s successful launch of the Challenger® brand.

David Caplan brought more than 20 years of purchasing, logistics and manufacturing operations experience when he joined AGCO as Senior Vice President of Materials Management Worldwide, in 2003. David effectively realigned the structure of and implemented new processes within AGCO’s purchasing organization. Among many other accomplishments, David also supported significant cost-savings initiatives in North America and launched AGCO’s Global Purchasing Excellence initiative.

Challenger® is a registered trademark of Caterpillar, Inc. and is used under license by AGCO.

ABOUT AGCO

AGCO, Your Agriculture Company (AGCO), is a global leader focused on the design, manufacture and distribution of agricultural machinery. AGCO supports more productive farming through a full line of tractors, combines, hay tools, sprayers, forage equipment, tillage implements, grain storage and protein production systems, as well as related replacement parts. AGCO products are sold through five core machinery brands, Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra®, and are distributed globally through 3,150 independent dealers and distributors in more than 140 countries worldwide. Founded in 1990, AGCO is headquartered in Duluth, Ga., USA. In 2012, AGCO had net sales of $10 billion. www.AGCOcorp.com

Contact:
AGCO
Press contact:
Rebecca Fabian, 646-415-8518
rf@stockheim-media.com
or
Investor contact:
Greg Peterson, 770-232-8229
greg.peterson@agcocorp.com

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