Olam Group of Singapore restructures executive leadership team
These changes, set to take effect following the company’s fifth Annual General Meeting (AGM) on April 27, 2026, represent a pivotal shift in the firm’s multi-year “Updated 2025 Re-organization Plan.”
SINGAPORE – Olam Group Limited has unveiled a sweeping executive leadership restructuring, as co-founder and Group CEO Sunny Verghese steps down from his parent-company role after 37 years, alongside Chairman Lim Ah Doo, effective April 27, 2026, following the fifth Annual General Meeting effective after its fifth Annual General Meeting (AGM) on April 27, 2026.
The leadership overhaul comes as the food and agri-business giant executes its “Updated 2025 Re-organization Plan,” first announced in 2020, to split its diverse operations into three distinct units: ofi (Olam Food Ingredients), Olam Agri, and the remaining Olam Group.
Long-serving Chairman Lim Ah Doo and Co-founder/Group CEO Sunny Verghese will step down from their parent-company roles, alongside Group CFO N. Muthukumar, marking a pivotal transition for the Singapore-listed firm.
Lim Ah Doo will step down as chairman during the group’s annual general meeting on April 27, concluding a nine-year term as a non-executive and independent director of the Singapore-listed company.
This shift marks a transformative moment for Olam Group Limited (OGL) as it adapts to evolving trends in the food and beverage industry.
Sunny Verghese, co-founder and executive director, will step down as group CEO at the AGM.
However, he will remain in charge of Olam Agri, the remaining segment of the agriculture business.
Group CFO N. Muthukumar will also step down on April 27, transitioning to focus on his role as COO of Olam Agri.
Venkataraman Krishnan steps in as new Group CFO, supported by Joydeep Bose (Group CHRO) and Rajeev Kadam (Global Head of Risk Management), all reporting to the Board ExCo.
Re-organization Progress and ofi Focus
Under the re-organization plan, Olam Group has invested US$500 million of equity into ofi to support various strategic initiatives, including exploring a potential concurrent listing in Europe and Singapore at an appropriate time.
Olam Group is actively divesting its agricultural division to the Saudi Agricultural and Livestock Investment Company (Salic), which is backed by Saudi Arabia’s sovereign wealth fund, PIF.
Olam Agri, backed by Saudi Agricultural & Livestock Investment Co. (SALIC), which holds a 49% stake with an option to increase to 80%, remains under Verghese’s CEO leadership, with Muthukumar as COO.
ofi CEO Shekhar Anantharaman joins the Olam Group Board as an Executive Director.
The reshuffle supports Olam’s tripartite structure: Olam Agri (staples), ofi (ingredients), and the Remaining Olam Group, aimed at debt reduction and clearer investor visibility since its 2020 transformation.
The board is advancing governance renewal, planning a Lead Independent Director post-AGM and a female independent director by late 2026, per its diversity policy.
Outgoing Chairman Lim Ah Doo noted the changes position the group “from a position of strength,” with strategy intact amid global food supply pressures.
The executive reshuffle will place Gautam Wadhwa at the helm as CEO of the remaining group, which includes OGL and Olam Food Ingredients (OFI). Mr Gautam Wadhwa will be primarily responsible for the successful monetization and divestments of OGH’s assets and businesses.
These management changes coincide with Olam Group’s announcement of its annual results.
Fiscal 2025 revenue rose 19.3% to S$67 billion (US$52.7B), while EBIT increased by 13.2% to S$2.19 billion (US$1.72B). Profit surged to S$600.7 million (US$472.33M) from S$201.5 million (US$158.43M) a year earlier, exhibiting OGL’s resilience amidst changing food and drink consumer trends.
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