The Andersons, Inc. (Nasdaq: ANDE) has announced that Bill Krueger, the current Chief Operating Officer (COO), will succeed Pat Bowe as President and Chief Executive Officer (CEO) starting October 1, 2024. In addition to his new role, Mr. Krueger will be appointed to The Andersons’ Board of Directors. Meanwhile, Mr. Bowe will continue to serve as Chairman of the Board.
“Bill has played a crucial role in our strategic growth during his time with The Andersons, positioning the company to capitalize on new opportunities within the agriculture supply chain,” said Bowe. “As COO, he has been deeply involved in our core operations and has shown outstanding leadership, consistently delivering value for our shareholders. After nearly a decade as CEO, I am proud to hand over the reins to Bill.”
Pat Bowe, who became The Andersons’ first non-family member CEO in 2015, has led the company through its largest acquisition, achieved record revenues nearing $17 billion in 2022, and increased adjusted EBITDA from approximately $120 million to over $400 million by 2023. Under his leadership, the company has also maintained its impressive streak of 112 consecutive dividend payments.
“I am honored to succeed Pat as CEO of The Andersons,” said Krueger. “The Andersons continues to thrive by leveraging its extensive expertise in the agricultural supply chain, strong customer relationships, and consistent performance for all our stakeholders. Leading a company with such a rich culture and strong foundational principles is a privilege. I look forward to exploring new opportunities to further build on 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. Before becoming COO of The Andersons, Krueger was President of the company’s trade and processing business. He began his career as a grain merchant, gaining expertise in the commodity industry with a focus on business development, energy markets, risk management, and corporate finance. Krueger holds a Bachelor of Science in Agribusiness from the University of Nebraska-Lincoln and an MBA 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 and the board of Children’s Mercy Hospital in Kansas City, Missouri.
