ST. LOUIS — Two executive leadership promotions at Bunge North America have been announced by Carl Hausmann, president and chief executive officer.

Todd Bastean has been promoted to vice-president and chief financial officer. Geri Hayes has been promoted to vice-president of human resources. Both changes become effective Dec. 31.

Mr. Bastean will replace Michael Scharf who has been c.f.o. since 1990. Mr. Scharf will be assuming a new corporate position with Bunge Ltd., reporting to Jackie Fouse, who is c.f.o. for the parent company.

Ms. Hayes will replace Phil Staggs, who has been with Bunge since 1999 and will retire at the end of the year.

"Todd and Geri have been valuable members of our leadership so I am confident that we will have a seamless transition as they assume their new responsibilities," Mr. Hausmann said. "We are grateful for the contributions that Mike and Phil have made not only to Bunge North America but to Bunge as a whole. We are pleased that we will continue to work with Mike in his new capacity and wish Phil all the best in his retirement."

Mr. Bastean currently is vice-president and general manager of Bunge Milling. He joined Bunge in 1992 and has held various financial and administrative roles. More recently, he has assumed general management duties, first as general manager of Bunge Biofuels and then in his current milling post.

Ms. Hayes has been with Bunge since 1999 and has had a range of duties in different parts of the human resources department, including employee benefits and organizational development.