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Report: ADM Brazil director steps down to join rival grain trading house

Marcelo Grimaldi, an executive director at Archer-Daniels-Midland Co.'s São Paulo unit, has resigned from his role at the U.S. food processing company to join rival grain trading house Gavilon do Brasil Comércio de Produtos Agrícolas Ltda. as general manager for Brazil.

Reuters reported the development Sept. 18, citing two sources.

Grimaldi was responsible for ADM's operations in Andean countries, as well as the biodiesel business, the report said. At Gavilon, he will replace Fabrício Mazaia, who was dismissed in May as part of an ongoing management revamp, Reuters added.

Grimaldi reportedly did not respond to Reuters' request for comment, while Gavilon declined to comment. Meanwhile, ADM confirmed Grimaldi's exit to the news outlet, but said it did not have any information "on his next professional challenges."

Gavilon is owned by Japanese trading house Marubeni Corp.