Just days before he was to assume the position of CEO of Louis Dreyfus Commodities, a former Western Canadian grain industry executive has parted ways with the global agricultural trading company .
Mayo Schmidt was to become the chief executive for Louis Dreyfus on January 5th.
“Following a more detailed analysis of the terms and conditions of their planned employment relationship, Louis Dreyfus Commodities and Mr. Schmidt have jointly decided not to proceed with the engagement, while retaining the highest mutual professional respect,” said a statement from the company on Wednesday.
The company says the search for its next CEO will resume immediately, with deputy CEO Claude Ehlinger maintaining an interim role.
Schmidt recently resigned his position on the board of directors for Calgary-based fertilizer company Agrium to accommodate his new role with Louis Dreyfus. He’s the former president and CEO of Regina-based Viterra Inc. Prior to his 12 years with Viterra, Schmidt spent five years with ConAgra Foods, first as president of ConAgra Grain, and then as executive vice president of domestic and international operations. Before that, Schmidt worked at General Mills, from 1982 to 1995.