* Nicosia takes on global cotton role at Louis Dreyfus
* Long-time execs take over reins at Allenberg
By Josephine Mason
NEW YORK, Jan 11 Allenberg Cotton has promoted
Thomas Malone to second-in-command of one of the world's biggest
cotton merchants as longtime chief Joe Nicosia relinquishes
day-to-day running of the U.S. company.
Malone, a 40-year Allenberg veteran and chief operating
officer, will take on the additional role of president, filling
the position vacated by Anthony Tancredi, who took over from
Nicosia as chief executive in November.
"I will be shifting my day-to-day responsibilities to
Anthony Tancredi and Tommy Malone," Nicosia said on the
sidelines of the Cotton Beltwide conference in San Antonio,
Allenberg is the U.S. cotton merchandising arm of Louis
Dreyfus Commodities and claims to handle about a
fifth of the country's production from its headquarters just
outside of Memphis, the epicenter of U.S. cotton trade, in
Among the most well-known and influential figures in the
clubby cotton market, Nicosia is still in charge of global
cotton operations at Louis Dreyfus.
But he has handed responsibility for Allenberg, which is
Dreyfus' U.S. cotton arm, to his two longest-serving senior
"This is about promoting Anthony and Tommy rather than
lessening my role in cotton and Louis Dreyfus," Nicosia said.
Shake-up of top management comes after signs of tension late
last year. Tancredi, long been considered Nicosia's heir
apparent, left the company abruptly in September and returned as
boss six weeks later.
As part of that deal, he took over Nicosia's two roles:
Allenberg chief executive and senior cotton platform head at
parent company Louis Dreyfus, Nicosia said this week.
At the same time, Nicosia became global cotton platform head
of Louis Dreyfus. He remains one of 26 senior executives on the
global commodity trader's executive committee.
His involvement in Louis Dreyfus' other divisions from
coffee to palm oil has taken up more of his time, he said.
Tancredi joined Louis Dreyfus in 1985, five years after
Nicosia, who had been working in the firm's grain division. This
was about the same time that Dreyfus teamed up with Allenberg,
according to company websites.