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Bunge posts fourth-quarter loss, says CEO to retire
(Reuters) - Agribusiness company Bunge Ltd (BG.N) reported a fourth-quarter loss, hurt by goodwill impairment and other charges, and said Chief Executive Alberto Weisser would retire.
The company said Soren Schroder, currently CEO of Bunge North America, would replace Weisser, who retires on June 1.
Bunge reported a net loss of $610 million, or $4.17 per share, in the quarter ended December 31, compared with a profit of $245 million, or $1.65 per share, a year earlier.
Adjusted earnings were 57 cents per share.
The company said the fourth quarter included after-tax charges of $683 million, with a goodwill impairment charge of $327 million in its sugar & bioenergy business and provisions of $298 million related to the pending sale of its fertilizer business.
Revenue rose 9 percent to $17.04 billion.
Bunge shares closed at $79.38 on the New York Stock Exchange on Wednesday.
(Reporting by Siddharth Cavale in Bangalore and Tom Polansek in Chicago; Editing by Supriya Kurane)
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