AgFeed Industries announces new chairman
AgFeed Industries, Inc., an international agribusiness company with operations in the U.S. and China and one of the largest independent hog producers and manufacturer of animal nutrients in China, announced that its board has elected John Stadler as its chairman and appointed him interim president and chief executive officer.
Mr. Stadler, a founder of M2 P2, LLC and its former chairman, succeeds Dr. Songyan Li as chairman of the company. Dr. Li relinquished his position on the company's board to assume the role of vice chairman of the company's hog production business with a strategic focus on Chinese government relations in pursuit of the company's core strategy of "AgFeed, Government & Farmer".
Mr. Junhong Xiong stepped down from his position as the company's president and chief executive officer and as a member of the board of directors to focus more time on his existing vital leadership role as chairman of the company's animal nutrition business that is in registration for an Initial Public Offering.
Mr. Stadler has over 45 years of experience as a senior executive and investor in the animal production and processing industry. Dr. Li, the Company's outgoing chairman, stated "Mr. Stadler's assumption of a leadership role in the company demonstrates and reinforces the company's commitment to the operating excellence that is at the core of our M2P2 operations and assuring the adoption of these operating standards across all aspects of our business".
In addition, AgFeed announced that Edward Pazdro has been made the permanent chief financial officer of the company. Mr. Pazdro had been appointed acting chief financial officer in November of 2010.
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