Archer Daniels Midland (ADM), a global agricultural processor and ingredients provider, has replaced its president of global trade.

Gary McGuigan has succeeded Gary Towne as president of ADM’s global trade desk, the company has confirmed.

Towne, who only took on the role last year, will retire on July 1 after 20 years with ADM.

“Towne’s retirement was planned, and McGuigan’s appointment reflects our ongoing succession planning,” says Jackie Anderson, a spokesperson for the company.

Before taking on his new role, McGuigan served as managing director of global trade, working closely with Towne.

ADM sources and sells food ingredients, animal feeds and biofuels to food manufacturers around the world. The company opened its global trading desk in 2015 in Rolle, Switzerland, to oversee its supply network.