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2017 Annual Report

With speed and conviction, Cargill is

taking action to achieve results that
help others thrive. Our purpose is to
nourish the world in a safe, responsible
and sustainable way. We are drawing
the food system closer together
through insights and partnerships that
accelerate impact.
David MacLennan Marcel Smits
Chairman and CEO Executive Vice President and CFO

Rising to the moment

Cargill achieved strong results this fiscal year. The changes we made across yields worldwide led to large surpluses, low commodity prices and little
our company prepared us to make the most of the opportunities in our markets volatility. Despite solid demand and robust movement of crops along supply
and to deliver unmatched solutions in agriculture, food and nutrition. As these chains, stocks continued to build at both origin and destination.
markets rapidly evolve, customers and other partners value the expertise,
reliability and forward-looking perspective that Cargill provides. Segment results

No matter the environment, our focus is to expand earnings so we can invest Animal Nutrition & Protein was the largest contributor to Cargill’s adjusted
for continued growth. Opportunities to build world-class businesses, solve operating earnings, with results lifted by exceptional performance in global
challenges, and lead on some of the most important issues of the day are protein. Results were buoyed by customer-focused strategies with a shift
attracting a new generation of talent with diverse skills and experiences to toward value-added products. Renewed consumer demand for beef also
our company. We are proud of the momentum we have generated this year created favorable market conditions in North America. Animal nutrition
and look forward to continued progress as we help build the food system of earnings came in just above the prior year, as feed demand in many countries
the future. was buffeted by a mix of environmental and market factors.

We had a year of growth, forming poultry joint ventures with leading food com-
Financial performance panies in Indonesia and the Philippines, and expanding our own operations
in Thailand. In the U.S., we purchased a specialty business in cooked meats
We reached $3.04 billion in adjusted operating earnings in fiscal 2017, an and converted one of our own plants to respond to market growth. We sold
85 percent increase year-on-year with gains across all four business seg- four cattle feed yards, which freed up working capital. In animal nutrition, we
ments. Net earnings on a U.S. GAAP basis rose 19 percent to $2.84 billion. opened an innovation center in Chile dedicated to fish health, as well as feed
Revenues grew 2 percent to $109.7 billion on higher sales of grain, oilseeds mills in China, India and Indonesia.
and metals. Cash flow from operations climbed 38 percent to $4.69 billion.

These broad-based gains were accomplished in a period of mixed macro-

economic trends for agriculture. A fourth consecutive year of strong crop

This report combines our financial and corporate responsibility performance in a manner that
reflects our intersecting focus on purpose and profitability.
Cargill 2017 Annual Report | 1
Net and adjusted operating earnings



2013 2014 2015 2016 2017

Cargill sales and other revenues by destination FISCAL 2017

36% North America

27% Asia Pacific
24% Europe, Middle East and Africa
13% Latin America

Cargill employees by geography FISCAL 2017

36% Asia Pacific

30% North America
19% Latin America
15% Europe, Middle East and Africa
Food Ingredients & Applications saw earnings rise moderately. A keen An integrated approach to deliver greater value
focus on strengthening commercial capabilities and operating efficiencies
Two years ago, we set out to build a more integrated, focused and agile Cargill
raised performance, especially in our global cocoa, and corn- and wheat-
that is equipped to lead in a quickly evolving world. We consolidated our busi­
based product portfolios. We opened food innovation centers in Minneapolis
ness units into a smaller number of global groups centered on specific product
and Shanghai. In Brazil and the U.S., we acquired two businesses that
lines, and simplified our leadership structure to speed decision-making
expand our offerings in plant-based bio-industrials.
and raise accountability. With the aim of being the market leader across our
Earnings in Origination & Processing exceeded the year-ago level, portfolio, we exited businesses where we did not see a path to growth and
as record U.S. crops were met with brisk demand stemming from global redeployed capital to those where we did.
growth in livestock production and reduced South American competition
We also sought to realize the full benefits of becoming an integrated operating
for exports. Our origination, crush and export assets in North America
company, one with world-class capabilities and processes implemented at
operated at high capacity in the first half, with good export volumes con-
scale everywhere we do business. Some of these are skill sets for which Cargill
tinuing into the second half. Global trading performance added to segment
has long been known: trading and risk management, supply chain and logistics
results, even though opportunities were limited by low volatility in many
expertise, and ingredient and formulation development. Some are areas where
commodity markets.
we have put in significant work to achieve progress in recent years: efficient
We sold our U.S. crop inputs business, two oilseeds plants in Europe and plant operations and functional shared services. And some are proficiencies
our share in a flour milling joint venture in Australia. We invested in data, where we aspire to change the game within our industry: sustainability, digitali-
analytics and trading technologies. At year-end, we joined with local partners zation and analytics, and leadership on issues that matter.
to open a major oilseeds processing plant and port facility in northern China.
At the center of this work is a revitalized purpose, which we adopted across
Earnings rebounded in Industrial & Financial Services, driven by increased our organization: Cargill will be the leader in nourishing the world in a safe,
returns from asset management investments, excellent trading and customer- responsible and sustainable way. This includes sectors like food and agricul-
centered merchandising in North American natural gas and power markets, ture where we have demonstrated consistent success. It also encompasses
and improved market conditions in ocean shipping. In separate transactions emerging opportunities in human and animal nutrition, the data economy, and
early in the new fiscal year, we sold our petroleum business and agreed to sell sustainable products and services. In all cases, we build on an unparalleled
our natural gas and power business to a company that can position them for global network of talent and assets that allows us to serve customers in
greater growth. The second transaction is expected to close in the first quarter unique ways.
of fiscal 2018.

Achievements this year

Established a new Reached $3 billion Reshaped the Provided training Mapped 166 million The fair value of
strategic direction, in adjusted operat- business portfolio to more than hectares across Cargill stock, which
identifying and ing earnings, with through $1 billion of 650,000 farmers on about 1,900 Cargill is independently
strengthening all four segments investment in stra- agricultural best sourcing areas valued on a quar-
capabilities that will reporting year-on- tegic acquisitions, practices to raise worldwide to estab- terly basis, reached
set us apart as we year gains. joint ventures, and productivity and lish a baseline for a record high on
serve our customers new and expanded protect the planet. measuring progress May 31, 2017.
and partners. facilities, as well in eliminating defor-
as $700 million estation from our
of divestitures in supply chains.
non-strategic assets.

Cargill 2017 Annual Report | 3

Although Cargill will continue to strengthen these capabilities, our accom- its 2016 Supply Chain Partner Award in part for our sustainability commit-
plishments to date have contributed significantly to the results we saw this ments. And a partnership for food safety innovations culminated in a supplier
fiscal year. This report highlights many examples and points the way forward award from U.K. food retailer Tesco.
for how we will win in the market by helping our customers and other
stakeholders thrive. Our commitment to safety

We continued to advance employee and contractor safety across Cargill.

Partnerships for impact
This year, we contributed We implemented a global safe driving policy that includes a ban on all mobile

We know that building a resilient food and agricultural system will require phone use – even hands-free devices – while driving for the company. Our
many hands and varied approaches tailored to local needs. This year, Cargill recordable injury frequency rate reached another all-time low this year, and our
achieved significant milestones with our global corporate responsibility three-year fatality rate dropped below the average for all companies reported

across partners. Our close collaboration with CARE serves as a vivid illustration of
the powerful impact we can have when combining our expertise with that
by the U.S. Bureau of Labor Statistics.

54 countries
Despite these results, we have yet to meet our most critical goal of sending
of others.
each colleague home safe every day. We suffered seven fatalities this year,
to advance programs Cargill and CARE have worked together for more than 50 years, with Cargill a number we will not accept. That’s why we have enlisted everyone across
that make a difference. investing $18 million in the partnership since 2008. During the past three Cargill to proactively analyze all activities, stop work if they see an unsafe
years, the partnership has positively impacted 300,000 lives in seven situation, and make a change to remove or mitigate the risk. Through this col-
countries by increasing farmers’ productivity, market access and livelihoods, lective effort, combined with industry-leading programs and standards we are
as well as improving food and nutrition security, community governance and deploying worldwide, we know we can eliminate fatalities and serious injuries.
education resources. This year, we embarked on a $7 million extension of
the partnership with a goal to reach a total of 1 million people in agricultural In closing
communities by 2020.
As we turn the page to a new year, Cargill is poised to lead in our markets.
With World Food Program USA, we initiated a $1 million school meals pro- Living our purpose, we know we have a clear contribution to make in the world.
gram that will benefit 100,000 students in Honduras, Kenya and Indonesia Working with farmers, customers, communities and other partners, we look
over the next two years. We announced a $3 million grant with Feeding forward to making powerful progress.
America to support nutrition education, increased access to fruits and
vegetables, diabetes prevention and food safety measures. And in Europe,
we helped advance a training program for food bank managers with the
European Federation of Food Banks, to reach some of the 43 million people
there who remain food and nutrition insecure. David MacLennan Marcel Smits
We also expanded partnerships focused on protecting the planet. With World Chairman and Executive Vice President,
Resources Institute and The Nature Conservancy, we undertook significant Chief Executive Officer Chief Financial Officer and
work to map and protect water and forest resources. Our Poliplant and Chief Compliance Officer
PT Hindoli oil palm plantations in Indonesia received certification from the
Roundtable on Sustainable Palm Oil, and the Indonesian government cited
five of our palm oil mills for excellence in environmental management and August 8, 2017
sustainable production.

Our customers acknowledge the value of the work we are doing in these
areas. Kellogg Company honored us with an award for our efforts to drive
sustainability and traceability in its palm oil supply chain. KFC Asia gave us

4 | Cargill 2017 Annual Report

Cargill is leading in a rapidly evolving landscape.
Customers, farmers and communities need a bold partner
with a broad view and deep insights. Around the globe,
our passion is translating their goals into solutions.
Each day, we are advancing new possibilities.
We connect with new partners
to expand markets.
Growth for poultry in Asia Jollibee Foods is the largest Asian platforms like Alibaba and Tencent. install refrigeration, so the shops
foodservice brand, with more than This focus on quickly changing taste can increase sales of fresh chicken
In Indonesia, the world’s fourth
2,500 locations in its home coun- and flavor preferences allows us products. These efforts provide
most-populous nation, convenience
try of the Philippines. This year, to share valuable insights with our greater access to protein and other
stores and petrol kiosks are where
Cargill formed a joint venture to foodservice and retail customers. nutritious products for consumers,
many consumers socialize and
build a state-of-the-art processing Also in China, we are partnering with while shop owners surveyed have
eat. To rapidly reach this growing
facility that will supply a variety Heifer International to assist small increased sales by an average of
market, Cargill formed a joint venture
of chicken products to Jollibee’s poultry farms – many led by women – 14 percent.
with local company So Good Food
restaurants. The partnership also in growing their operations with best
to deliver fully cooked chicken
provides local poultry farmers with practices in animal husbandry. New sources of protein
products. The venture combines
breakthrough access to expanding
So Good Food’s established brand Cargill, Silicon Valley-based
urban markets. Assisting small
recognition and distribution channels innovator Calysta and third-party
with Cargill’s world-class processing In China, where e-commerce sales businesses investors are constructing the
and product development expertise. are higher than in the U.S. and Rising demand for animal protein world’s largest gas fermentation
Additionally, in Thailand, we are Europe combined, Cargill is mobi- must be met with strong distribution facility in the U.S. to make
expanding our operations to increase lizing our fully integrated poultry networks. In Central America, FeedKind® protein. Produced
exports regionally. supply chain to reach consumers our poultry business works with through a process where microbes
online. Our Sun Valley® brand is now owners of small local shops to feed on methane and are then
available directly to consumers on provide business training and converted into dried protein,
FeedKind products will initially be
substituted for fishmeal in aqua
feed. This will help protect marine
Cargill manages approximately ecoystems by replacing fishmeal
“We are changing the game on how protein is delivered

from up to 1 million tons of fish
to consumers, bringing best-in-class capabilities in food safety, a year.
product innovation and supply chain management to Jollibee’s
dynamic brand. We are building something meaningful.” shipments of goods

6 | Cargill 2017 Annual Report

Growth in poultry consumption in Asia, 2000-2025

+57% China

+93% Philippines
+100% Indonesia

2000 2016 2025 (projected)

Cargill 2017 Annual Report | 9

We share our expertise
to accelerate new solutions.
A network for innovation bring customers what they need. Our research and development across North America, we devel-
For example, we supported an inter- center in Minneapolis is pursuing oped packaging that keeps meat
Cargill is partnering with customers
national customer looking to expand projects that will transform food and fresh longer and improves food
to anticipate and respond to chang-
its business to China by adapting nutrition. The team is advancing the safety. And in the U.K., we part-
ing consumer preferences. Our
its offerings, ingredients and supply Cargill stevia product line to enable nered with grocer Tesco to design
global network of innovation centers,
chains to meet local preferences. customers of all sizes to create chicken packaging with multiple
including three new facilities opened
This approach was underpinned more nutritious products across sealed sections for separate
this year, accelerates collaboration
by consumer research that led to the beverage, dairy, cereal, snack portions, making it easy to prepare
with customers to deliver critical
targeted product selections. and confectionery categories. In smaller servings with less waste.
research and market-ready, sustain-
collaboration with global colleagues,
able product solutions. In total, we In Colaco, Chile, Cargill opened one
the center also is researching Beauty solutions
invested $40 million to expand our of the world’s foremost innovation
fermentation, enzymology, molecular
research and development capabili- centers devoted to fish health. The For the personal care market,
biology and other fields to achieve
ties this year. $10.5 million investment increases Cargill is offering sustainable,
breakthroughs in how food can be
by 30 percent the global capacity for nature-derived alternatives to
The Shanghai Innovation Center sustainably produced.
conducting research trials to prevent traditional synthetic ingredients.
offers a one-stop consultancy to food
and treat diseases that threaten Our bio-fermented Actigum™
companies, combining the talents
aquaculture productivity. Research Safer, simpler packaging line and our seaweed-derived
of our chefs, product development
undertaken here will help ensure a Cargill is creating solutions that Satiagel™ brand of texturizers add
teams and ingredients businesses to
sustainable future for this growing boost food safety and reduce waste. natural body to a variety of skin
source of global protein. For retail ground beef sold in stores and haircare products. We also are
collaborating with leaders such as
Unilever and L’Oréal to help craft
clean-label cosmetics that appeal
“Our passion for aquaculture is to further the We have more than to consumers’ values.
science. We are working to develop fish feeds that
combat the risks of disease and help this young 2,000
scientists, researchers
industry grow sustainably.”
and related specialists

8 | Cargill 2017 Annual Report

Growth in global aquaculture versus wild catch


As aquaculture rises
rapidly, safeguarding
Wild catch fish health will be
vital for the growth
and sustainability of
the sector.

1985 1995 2005 2015 2025 (projected)

Cargill 2017 Annual Report | 11

We apply analytics
to ignite growth through data.
New tools for farmers empowered to make more informed address deforestation. Aided by this are producing and why, and
choices for their operations that help on-farm coaching, cocoa farmers have identified opportunities
In today’s complex marketplace,
drive profitability. who fully adopted farm development for improvement.
farmers are looking for a digital edge.
plans saw yields rise by an average of
Cargill is deploying a variety of smart In Côte d’Ivoire, Cargill and
49 percent last year. An eye in the sky
tools for producers that enable us SourceTrace Systems developed a
to work together more effectively software solution that helps cocoa Dairy Enteligen™, a Cargill animal Tapping data gathered by satellites
and sustainably. farmers increase the sustainability nutrition software platform debuted and other sensors, Cargill is
of their production. Equipped with in Italy, Spain and the U.S., helps developing more informed analysis
Cargill teams in Canada use
a cloud-enabled mobile app, lead dairy farmers make the most about everything from crop yields to
Greenlight Grower Management, a
farmers who act as coaches collect of their operations. The system the movements of shipping vessels
cloud-based program developed by
and quickly analyze field-level data. connects disparate data on feed on the high seas. These insights
a third-party vendor, to capture field
With the resulting insights, farmers formulation, animal biometrics, and help us better serve our customers
and crop data for farmer customers.
work with their coaches and cooper- farm management and finances. and reveal ways to achieve
The tool analyzes this data to help
atives to make production decisions It creates a comprehensive greater sustainability.
customers plan crop rotation, as
that increase yields and meet analysis that changes how Cargill
well as fertilizer and crop protection This year, we partnered with World
certification standards for sustain- consultants work with their dairy
applications. Farmer customers are Resources Institute’s Global Forest
able cocoa. GPS maps generated customers. Before even setting
Watch to map approximately 1,900
through the process also advance foot on the farm, they know how
Cargill sourcing areas of cocoa,
understanding of how climate change much milk a customer’s cows
palm, soy and other commodities –
may impact cocoa farming and help
a region almost seven times the size
of the U.K. Based on 2014 data, this
work establishes a baseline that
“The future of work is changing so quickly. Cargill’s proprietary data we will use to track our progress

With our purpose to nourish the world, Cargill is network has about in eliminating deforestation in our

7 petabytes
supply chains.
an incredible place to build a career in information
technology and analytics. The opportunities
of information.
are boundless.”

10 | Cargill 2017 Annual Report

Within 10 years, digitalized agriculture has the potential to raise yields sufficiently to provide food for

1 billion people

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We scale up sustainability
to protect the planet.
To make food and agriculture more Renewable energy has long been upgrades at our oilseeds facility in maritime industries. And alongside
sustainable, we are focusing on areas central to our work. Using 15 types Riesa, Germany, have helped lower 47 other shipowners and charterers,
where our size and market presence of renewable energy at our facilities the plant’s GHG intensity by more we called for ambitious action and
can make a significant impact: land worldwide helped Cargill avoid than 20 percent. stronger regulations on sulphur
use, climate change, water resources 1 million metric tons of GHG emis- emissions in ocean shipping.
To accelerate GHG reductions, our
and farmer livelihoods. sions this year. What sets Cargill
new climate project is exploring
apart is our use of biomass – often Protecting soil and water
energy use, transportation and
Addressing byproducts of the agricultural goods
supplier relations related to row crop Cargill is a founding member of the
we process that might otherwise
climate change go to waste. In Southeast Asia,
farming and livestock production. Midwest Row Crop Collaborative,
For more than 20 years, Cargill has which unites industry and conserva-
for example, palm fruit fibers and
been taking action to mitigate hulls power nearly all of our oil palm Shipping more efficiently tion leaders to improve soil and water
climate change by steadily reducing quality in the U.S. states of Illinois,
plantations and mills. As one of the largest charterers of
greenhouse gas (GHG) emissions Iowa and Nebraska. Working with
dry bulk and tanker shipping, Cargill
in our operations. Now, against the We also are deploying systems that established groups like the Soil Health
is advancing sustainable ocean
backdrop of the Paris Agreement and generate combined heat and power Partnership and Field to Market, the
transportation. Today, 98 percent
the U.N. Sustainable Development on site, decreasing the amount of collaborative is supporting farmer-led
of Cargill’s dry bulk fleet has been
Goals, we are working with The electricity we buy from the grid. The efforts to reduce nutrient loss and
vetted with one of the five highest
Nature Conservancy and other part- ability to produce heat and power enhance the efficient and sustainable
grades for efficiency from RightShip.
ners to chart a bolder path forward. from the same source reduces our production of commodity crops. This
This year, we supported the Carbon
GHG emissions. For instance, recent year, the collaborative helped fund
War Room’s efforts to decarbonize
20 new demonstration farms in three
priority watersheds to test practices
that can improve soil health, such as
“It’s very gratifying to build projects that We have engaged

decreased tillage, advanced nutrient
accelerate our positive impact on the management and cover crops.
environment, and to see them go from an idea to
Facing page: Our facility in Frankfurt am
implementation with tangible results.” Main, Germany, produces biodiesel – one
of many Cargill bio-industrial products made
ALESSANDRA ELISIARIO, GLOBAL ENERGY LEAD globally to help protect forests from renewable agricultural sources.
in our cocoa, cotton, palm and soy
supply chains.
12 | Cargill 2017 Annual Report
Progress this year on energy and natural resource use
2015 baseline 2020 goals

Greenhouse gas intensity improvement 3.2%

Energy efficiency improvement 2.5% 5%
Freshwater efficiency improvement 2.9%

Energy portfolio from renewable sources 14.4% 18%

Cargill 2017 Annual Report | 15

We take bold action
to lead for impact.
In a rapidly changing geopolitical to markets. Our work with CARE, Protecting our planet endeavors increase collaboration We expanded the reach of our Global
landscape, the role of the private TechnoServe, Solidaridad and other for addressing common challenges Scholars Program for top university
We are conserving vital natural
sector has never been more import- organizations helped us reach more through large-scale solutions. students in agricultural fields, bring-
resources to create a more sustain-
ant. We are evolving our approach than 650,000 farmers this year. ing the program to Indonesia this
able future. We focused this year on This year, we also worked with World
to have an even greater impact. Our year. To date, more than 300 scholars
Through Partners in Food Solutions, establishing baselines for our work in Wildlife Fund to develop a policy and
long-term corporate responsibility have benefited. We also reached sec-
Cargill employees shared their land use, water resources and climate practices to ensure that 100 percent
partnerships combine with the work ondary and post-secondary students
expertise with small and growing food change. Through work with outside of the fiber-based packaging products
our businesses do every day to build by supporting agricultural, engineer-
processors in Africa to improve access experts, we identified the areas where we source will be Forest Stewardship
stronger communities and a more ing and IT programs in countries such
to safe, nutritious and affordable food Cargill’s global scale and reach could Council certified or recycled by 2025.
sustainable, food-secure future. as the U.S. and the U.K.
in local communities. During the past have the biggest impact.
year, 67 employees contributed more Enriching The impact of our programs and
We signed onto global coalitions such
Nourishing our world than 1,400 hours to support nearly partnerships is multiplied by our
50 African small businesses.
as the World Business Council on our communities employees, who invest in their
Working with partners in many
Sustainable Development to advance Cargill is investing in the communities
countries, Cargill is advancing communities through a wide range
In the U.S., cooking contests engaged sustainability results. By joining the where we live and work. Through
systemic approaches to food security, of activities supported by hundreds
students in building healthier school Cocoa & Forests Initiative, we also are efforts focused on economic and
nutrition and food system innovation. of Cargill Cares Councils worldwide.
lunches that meet nutritional stan- accelerating efforts to protect forests community development and
We are partnering with farmers to help During the season surrounding
dards, while Cargill Foundation part- in the cocoa supply chain. These employee engagement, we are
improve their productivity and access World Food Day in October 2016,
nerships reached more than 300,000 leveraging our expertise and insights. employee volunteers reached more
schoolkids with nutrition programs
than 260,000 people, including more
during 2016.
than 124,000 children and young
people. And for Earth Day, employees
contributed more than 9,500 hours
“I know one of Cargill’s goals is to be an inclusive Implementing the U.N. Sustainable
on environmental projects around
Development Goals could create
company. Helping my homeland of Somalia in a the world.

time of need makes me feel included. I’ve never seen

a company so involved in nourishing communities.”
$2.3 trillion
worth of opportunities in food and


14 | Cargill 2017 Annual Report

Cargill’s global contributions this year totaled

$54.7m across 54 countries

Cargill 2017 Annual Report | 17
Our impact
Working with diverse partners around the globe, we advance a wide range of approaches to keep the food and agriculture system
strong. Aligned with our business objectives and the U.N. Sustainable Development Goals, these actions deliver on our purpose to
be the leader in nourishing the world in a safe, responsible and sustainable way.

Our 2030 goals

Increase access to safe, Eliminate deforestation and Provide training on sustainable
nutritious food for a advance climate solutions in agricultural practices and
growing population. our supply chains. improve access to markets for
10 million farmers.

Our corporate responsibility priorities and highlights

Nourishing our world Protecting our planet Enriching our communities
Food • Engaged more than 600,000 people in Land use • Trained 300 employees to evaluate and track Economic • Invested more than $2.5 million through the
security and nutrition education programs in 14 countries. implementation of Brazil’s Forest Code. and Cargill Foundation in STEM education and
nutrition • Enabled more than 3.7 million meals to be community college and career readiness programs,
delivered through food bank partnerships in Climate • Established a roadmap to accelerate development reaching more than 64,000 students.
18 countries. solutions reductions of GHG emissions across • Improved education for more than 31,000
our operations. students in China, Indonesia and Vietnam
Food system • Invested $40 million to expand our research • Reinforced our commitment to the through investments in infrastructure and
innovation and development capabilities. Paris Climate Agreement. environmental education.

Farmer • Provided training to more than 650,000 farmers Water • Worked with World Resources Institute Employee • Supported employee-led Cargill Cares
livelihoods on agricultural best practices to help raise resources to research agriculture’s impact on water engagement Councils in more than 40 countries to
their productivity. quality in North America. implement local volunteer projects and
community partnerships.
16 | Cargill 2017 Annual Report
Our leadership David MacLennan Todd Hall Joe Stone
Chairman and CEO Protein and Salt Animal Nutrition
LeighAnne Baker Ruth Kimmelshue Gert-Jan van den Akker
Human Resources Business Operations Agricultural Supply Chain
and Supply Chain
David Dines Frank van Lierde
Metals and Shipping Marcel Smits Food Ingredients
Finance and Bio-Industrial
and Compliance

We are building momentum toward a singular focus:

helping the world thrive.

Cargill 2017 Annual Report | 19 © 2017 Cargill,
P.O. Box 9300 Incorporated.
Minneapolis, MN 55440 Printed in U.S.A.