March 3, 2015 / 12:35 AM / 5 years ago

MOVES-Mondelez's cocoa chief Amoye leaves after 5 years

NEW YORK, March 2 (Reuters) - Scott Amoye, who ran Mondelez International Inc’s cocoa business, has left after five year years with one of the world’s largest chocolate companies and the maker of Cadbury chocolates and Oreo cookies, he confirmed to Reuters on Monday.

His last day was Friday and has been replaced by Udo Kagerbauer, who is based in Switzerland and was named director for global cocoa commodity price risk management at Mondelez, he said.

“I expect to continue in commodities,” said Amoye, who was based in New Jersey. He declined to say what his plans are or which company he may be joining.

A Mondelez spokesman declined to comment on the moves, citing the Illinois-based company’s policy not to discuss personnel changes.

Amoye joined British chocolate maker Cadbury in 2009 as vice president of global commodities. Cadbury would later be bought by Kraft Foods Group Inc, Mondelez’s former parent.

Almost 18 months later, he became senior director of global commodities for coffee and cocoa when Cadbury was bought by Kraft in 2010.

Following Kraft’s decision to spin off its snacks and chocolate business, creating Mondelez in September 2012, he became senior director for global commodities sourcing and risk, managing the global cocoa and cocoa products teams.

Earlier in his career, he had been a cocoa trader for 20 years at London-based commodities trader ED&F Man.

Mondelez was the second-largest chocolate company in the world in 2014, according to data from the International Cocoa Organization, with sales of $14.4 billion, trailing Mars at $18.5 billion.

His departure comes at a critical time for the cocoa industry as chocolate makers such as Hershey Co hiked retail prices due to the soaring cost of cocoa beans and dairy, hurting sales.

Competition among merchants and bean processors is also intensifying after a series of deal making.

Last year, Archer Daniels Midland Co sold its cocoa and chocolate operations to Olam International Limited and Cargill Inc, respectively, and in January, Noble Group Ltd decided to wind down its cocoa operations. (Editing by Lisa Shumaker)

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