January 22, 2020 / 11:19 AM / a month ago

MOVES-Tereos Commodities sugar unit director, trader to leave

(Adds other trader departure, Tereos reaction)

PARIS, Jan 22 (Reuters) - Alex Leite, head of Tereos Commodities sugar trading division, is leaving the company, the French sugar group said on Wednesday, confirming an earlier Reuters report.

Geneva-based Leite had been appointed to the role in April of last year as part of a global reorganisation at Tereos to weather an industry-wide slump.

He will be going back to Brazil to work for state-run oil firm Petrobras, sources said.

Sugar trader Samy Deramchi is also leaving Tereos Commodities, a Tereos spokesman said in response to an emailed question by Reuters.

Two sources said he was joining Louis Dreyfus Company.

Tereos Commodities, which traded 1.4 million tonnes of sugar in the 2018/2019 marketing year, aims to fill both positions, a Tereos spokesman said.

“There is no change in Tereos Commodities’ strategy,” he said. (Reporting by Sybille de La Hamaide;Editing by Elaine Hardcastle)

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