The Andersons, Inc. announces Bill Krueger, the company’s current Chief Operating Officer (COO), will succeed Pat Bowe as President and Chief Executive Officer (CEO) effective October 1, 2024. Mr. Krueger also will be appointed to The Andersons Board of Directors. Mr. Bowe will remain as the company’s Chairman of the Board. “Bill has been integral to our strategic growth during his tenure with The Andersons, helping to position the business to take advantage of new opportunities across the agriculture supply chain,” said Bowe. “As COO, he has been immersed in our core operating segments, and has demonstrated exceptional leadership with a proven track record for creating value for shareholders. After nearly a decade as CEO, I am proud to pass the baton to Bill.” Pat Bowe joined The Andersons in 2015 as the company’s first non-family member CEO. Under his leadership the company completed its largest acquisition, achieved record revenue approaching nearly $17 billion in 2022, grew adjusted EBITDA from approximately $120 million to over $400 million by 2023, and steadily increased dividend payments, retaining the company’s track record of 112 consecutive dividends. “I am honored to succeed Pat as CEO of The Andersons,” said Krueger. “The Andersons continues to excel by leveraging its deep expertise in the agricultural supply chain, strong customer relationships, and consistent delivery of strong results for all our stakeholders. Leading a company with such a rich culture and foundational principles is truly a privilege. I am eager to explore new opportunities to further strengthen the legacy and leadership that have driven the company’s growth for over 77 years.” Bill Krueger joined The Andersons in 2019 as part of its acquisition of Lansing Trade Group, where he served as president and CEO for nearly 14 years. Prior to serving as The Andersons COO, Krueger was president of the company’s trade and processing business. He began his career as a grain merchant, where he honed his expertise in the commodity industry, with a strong focus on business development, energy markets, risk management, and corporate finance. Krueger earned his Bachelor of Science in Agribusiness from the University of Nebraska-Lincoln and Master of Business Administration in finance from DeVry University’s Keller Graduate School of Management. He currently serves on the executive committee of the National Grain & Feed Association (NGFA) board of directors, as well as on the board of Children’s Mercy Hospital in Kansas City, Missouri. The Andersons, Inc. Names Bill Krueger as CEO Effective October 1, Pat Bowe Will Remain Chairman Chief Executive Jonathan Gear to Step Down as CEO and Member of the Board Clarivate Plc, a leading global provider of transformative intelligence, announced that the Board has appointed Matti Shem Tov, former CEO of ProQuest, as the Company’s next CEO, effective August 9, 2024. Mr. Shem Tov will also join the Company’s Board of Directors. Jonathan Gear, Chief Executive Officer, will step down as CEO and as a member of the Board at that time, and will transition into a nonexecutive role until November 1, 2024. “The Board and Jonathan have mutually agreed that now is the right time for new leadership who can help take Clarivate to the next phase of its value creation journey,” said Andy Snyder, Chairman of the Clarivate Board. “I want to thank Jonathan for his many contributions to the Company. Under his leadership, Clarivate restructured into three end-market segments, which reinvigorated Clarivate’s product innovation investments and commitment to its customers, added terrific talent to the leadership bench, and helped strengthen the Company’s balance sheet. As a result, Clarivate is now well positioned to utilize the distinct expertise within each of our business segments to deliver exceptional and tailored solutions to our customers globally. With this foundation and the investments we are making in product innovation, we are confident in our ability to drive organic growth.” Mr. Snyder continued, “I am also pleased to welcome Matti back to Clarivate, where he will leverage his deep expertise in innovating and delivering new products to market to help launch Clarivate in its new phase of accelerated organic growth. Given Matti’s decades of leadership experience, the Board and I are confident that he is well suited to partner with our exceptional management team to lead Clarivate.” “I am pleased to join Clarivate as its next CEO,” said Mr. Shem Tov. “I have a tremendous amount of respect for Clarivate’s businesses and its mission of advancing innovation through research and knowledge sharing to solve the world’s most complex challenges. I am looking forward to working closely with our committed global colleagues and loyal customers to accelerate growth, increase product innovation and drive value creation for all our stakeholders.” “It has been a privilege to lead this dedicated and passionate team, and I am proud of what we have achieved together,” Mr. Gear said. “The Company has made strong progress managing and integrating its portfolio of businesses while supporting the needs of customers and partners. After thorough discussions with the Board, it’s clear that this is the right time to make this transition. I am confident that Clarivate has a strong future ahead and I look forward to supporting the Company in my upcoming non-executive role.” Mr. Shem Tov’s appointment follows a process led by the Board of Directors and supported by Heidrick & Struggles, a leading global executive search firm. Separately, Clarivate today reported results for the second quarter ended June 30, 2024. Clarivate will host a conference call and webcast today at 9:00 a.m. Eastern Time to review the results for the second quarter and discuss the announced leadership changes.
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