The Andersons Inc., Maumee, Ohio, announced on Aug. 19 that Bill Krueger, the company’s current Chief Operating Officer, will succeed Pat Bowe as President and CEO, effective Oct. 1, 2024. Krueger will also be appointed to The Andersons Board of Directors, and Bowe will remain as the company’s Chairman of the Board.
Krueger joined The Andersons in 2019 as part of its acquisition of Lansing Trade Group, where he served as President and CEO for nearly 14 years. Prior to serving as The Andersons COO, Krueger was president of the company’s Trade and Processing business. He began his career as a grain merchant, and currently serves on the executive committee of the National Grain and Feed Association (NGFA) Board of Directors, as well as on the board of Children’s Mercy Hospital in Kansas City, Mo.
“Bill has been integral to our strategic growth during his tenure with The Andersons, helping to position the business to take advantage of new opportunities across the agriculture supply chain,” Bowe said. “As COO he has been immersed in our core operating segments, and has demonstrated exceptional leadership with a proven track record for creating value for shareholders. After nearly a decade as CEO, I am proud to pass the baton to Bill.”
Bowe joined The Andersons in 2015 as the company’s first non-family member CEO. Under his leadership, the company completed its largest acquisition, achieved record revenue approaching nearly $17 billion in 2022, grew adjusted EBITDA from approximately $120 million to over $400 million by 2023, and steadily increased dividend payments, retaining the company’s track record of 112 consecutive dividends.