January 25, 2008

Viterra names new chief financial officer

Canada-based Viterra announced Thursday the appointment of Rex J. McLennan, as chief financial officer (CFO) effective February 4.

Mayo Schmidt, Viterra's president and chief executive officer, said McLennan comes to the company with an impressive depth in the areas of financial management and business development, earned through more than 25 years with multinational resource based companies.

McLennan will lead Viterra's financial and risk management operations. He will build the infrastructure of financial programmes, policies and controls, and set long-term plans aligned with Viterra's vision to be a leader in agribusiness.

Prior to joining Viterra, McLennan was engaged with mining and oil and gas sectors. From 1997 to 2005, he was the executive vice-resident and CFO for Placer Dome Inc., a multinational mining company acquired by Barrick Gold in 2005.

McLennan holds a Master of Business Administration degree from McGill University and a Bachelor of Science degree from the University of British Columbia. He is a member of the Financial Executives Institute.

McLennan replaces David Carefoot, who will remain with the company until the end of February to assist with transition.

Viterra is Canada's premier agribusiness built on the foundation of Saskatchewan Wheat Pool Inc. and Agricore United. It has extensive operations and distribution capabilities across Canada, US and Japan.