WHITE PLAINS, N.Y. — Alberto Weisser, who will retire as executive chairman of Bunge Ltd. Dec. 31, also will resign from the company’s board of directors at that time. Announcing Mr. Weisser’s departure from the board, Bunge said L. Patrick Lupo will become non-executive chairman of Bunge, effective Jan. 1. Mr. Lupo joined the Bunge board in 2006 and currently serves as deputy chairman, lead independent director and chairman of the compensation committee. He is a former chairman and chief executive officer of DHL Worldwide Express. He was with DHL from 1984 until 2001.

“Alberto successfully led Bunge through a period of transformation and expansion,” Mr. Lupo said. “During his tenure, the company established a network of well-placed assets, built leading market positions in agribusiness and food and ingredients, and developed a talented team. The foundation he put in place has opened up numerous possibilities for Bunge and will serve as a springboard for future success. The board joins me in thanking Alberto for his outstanding contributions and in wishing him the very best in the future.”

Mr. Weisser’s career with Bunge spanned 20 years. He was c.e.o. from January 1999 until this past June 1, when he was succeeded by Soren Schroder. Mr. Weisser joined Bunge in 1993 as chief financial officer.  Since an August 2001 initial public offering, Bunge shares have quintupled in value.

“It has been an honor to lead Bunge,” Mr. Weisser said. “We accomplished a lot in the 20 years since I joined the company, and as it approaches its 200th year of operations, the future holds even greater potential.”