SYDNEY, AUSTALIA — Mark Palmquist, currently executive vice-president and chief operating officer of Ag Business at CHS, Inc., has been named managing director and chief executive officer of GrainCorp Ltd. Mr. Palmquist currently oversees all of CHS’s international grain-related business units and has held several leadership roles in the food and agricultural industries over a 35-year career spanning North America, South America, Europe and Asia.

Following his departure from CHS on Aug. 31, Mr. Palmquist is scheduled to start at GrainCorp on Oct. 1 and will be relocating to Australia from Minnesota.

“GrainCorp’s board is delighted to have secured a candidate of such high caliber and international standing,” said Don Taylor, executive chairman and interim c.e.o. of GrainCorp. “We are confident that Mark’s skills and extensive experience will be invaluable to the ongoing growth of GrainCorp as a global agribusiness and food ingredients company. The company remains focused on building shareholder returns through the program of strategic initiatives we have been implementing since 2012. Mark brings a valuable combination of deep industry knowledge and global management experience to GrainCorp. We are all excited about working with him as he leads GrainCorp into its next phase of growth, enhances our customer offering and grows value for our investors.”

Mr. Palmquist joined CHS in 1979 and started out as a grain buyer, before moving into grain merchandising. There, he traded a number of commodities including corn, soybeans and spring wheat. In 1990, he was promoted to vice-president and director of the grain marketing division. In 1993, he was named senior vice-president of that area.

Since 2001, he has held a variety of leadership roles for a broad range of CHS agricultural inputs and marketing areas, retail businesses and grain-based food and food ingredients operations. He was named executive vice-president and chief operating officer in 2005 and served in his most recent role at CHS since January 2011. He serves on the board of directors of Ardent Mills and is a long standing member of the Minneapolis Grain Exchange and the Chicago Mercantile Exchange.

“I have worked around the world, and GrainCorp is by any measure an outstanding company,” Mr. Palmquist said. “GrainCorp’s board, management team and people have transformed the company into a leading agribusiness with a strong international reputation. It is a privilege to be joining the company at such an exciting time.”