April 3, 2018 / 2:31 PM / 17 days ago

SALIC names former COFCO executive Matthew Jansen CEO

CHICAGO, April 3 (Reuters) - The Saudi Agricultural and Livestock Investment Company (SALIC) on Tuesday said it appointed Matthew Jansen as its chief executive officer.

Jansen was previously chief executive of the international grain business at China’s COFCO Group. He resigned in January 2017 after just 18 months at the company.

Saudi Arabia has been phasing out crop farming due to its intense water usage in the desert kingdom. SALIC, an arm of the state-owned Public Investment Fund, has targeted investments in beef and eight key crops, including wheat. (Reporting by Mark Weinraub Editing by Chizu Nomiyama)

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