WHITE PLAINS, N.Y. (AP) -- Bunge Ltd. has named lead independent director L. Patrick Lupo to succeed Alberto Weisser as non-executive chairman, effective Jan. 1.
The White Plains, N.Y., agribusiness company said Friday the move will follow Weisser's Dec. 31 retirement.
Lupo has served on Bunge's board since 2006 and is currently deputy chairman. He is the former chairman and CEO of DHL Worldwide Express.
Weisser had served as chairman and CEO since 1999 before becoming executive chairman last June.
Bunge shares rose 70 cents to $81.09 in morning trading Friday. The stock is up more than 10 percent so far this year.