Singapore-listed Olam Group has announced an overhaul of its leadership and management structure as part of efforts to advance its broader restructuring plan.
In a statement, the food and agri-business firm said it is pushing ahead with its updated 2025 reorganisation plan, which includes divestments and a streamlined corporate structure centred on its continuing units, ofi, and OGH.
As part of the transition, long-time chief executive and co-founder Sunny Verghese will step down as group CEO at the conclusion of the company’s annual general meeting on April 27 while remaining head of Olam Agri.
Yap Chee Keong, deputy chairman and chair of the Board Executive Committee (Board ExCo) and the Board Risk Committee, will take over as chairman to ensure continuity, Olam said.
The restructuring also includes changes in the finance function, with group CFO N Muthukumar set to step down and be replaced by Venkataraman Krishnan, who will oversee financial strategy, including capital allocation, compliance, and investor relations.
A central element of the reorganisation is the creation of a dedicated leadership role for OGH, which will house the group’s remaining assets earmarked for value realisation.
Gautam Wadhwa will be appointed CEO of OGH, with a mandate to drive divestments and reposition businesses for long-term value or exit.
“The group embarks on a new chapter of leadership from a position of strength, underpinned by strong foundations built through years of discipline stewardship, giving the renewed board a stable platform,” said Lim Ah Doo, Olam Group chairman and non-executive and independent director.
The latest development comes less than a year after Olam announced the closure of Jiva Ag, its agritech venture incubated by Nupo Ventures, part of the Remaining Olam Group.
The shutdown affects 606 employees across Singapore, Indonesia, India and Australia, with the bulk based in Indonesia.
Olam announced its reorganisation plan in April last year to make the Remaining Olam Group debt-free and self-sustaining over time. The plan calls for conserving cash, reducing debt, and responsibly divesting non-core assets.
Olam Group is a food and agri-business supplying food, ingredients, feed, and fibre to more than 20,000 customers worldwide.
