AGCO Names Andre Carioba Senior Vice President and General Manager for South America
DULUTH, Ga.--(BUSINESS WIRE)--July 3, 2006--AGCO Corporation (NYSE: AG), a worldwide manufacturer and distributor of agricultural equipment, today announced the appointment of Andre Carioba as Senior Vice President and General Manager for South America. Carioba will be responsible for managing all operational functions as well as, the development and implementation of specific brand marketing strategies through the sales, marketing and customer support organizations for AGCO Allis, Challenger, Massey Ferguson, Valtra and AGCO application equipment. He will be an officer of AGCO, headquartered in Sao Paulo, Brazil.
From 2000, Carioba served as President and General Manager of BMW Brazil Ltda., where his operation increased the overall sales volume of cars, motorcycles, parts and accessories, securing the company's leadership in the 'premium segment' of the Brazilian market. He also served as Director of Purchasing and Logistics for BMW while in Brazil.
"Andre brings an extensive knowledge of the Brazilian market to AGCO," said Martin Richenhagen, President and CEO of AGCO Corporation. "We are pleased to have him on the executive team, since South America provides us with such a great opportunity for future growth." Richenhagen continues, "He is a great addition and we will certainly benefit from his experience."
Throughout his career at BMW, Carioba held various assignments within the Procurement Division including, Senior Manager for International Purchasing Projects at BMW AG in Munich. While in Munich, he also worked in the Sales Division for the International After-Sales Service Organization. At the BMW headquarters in Iberica S.A., Madrid, Carioba was the Manager of Purchasing for Spain and Portugal, where he expanded local automotive component and supplies to the German and Austrian BMW plants.
Carioba holds a degree in Economics and Business Administration from Ludwigs-Maximilian-Universitat in Munich. He is the former President of the Brazilian Association of Vehicle Importers (ABEIVA), and was a member of the Brazilian-German Chamber of Commerce Advisory Board in Sao Paolo, Brazil.
About AGCO
Founded in 1990, AGCO Corporation (NYSE: AG) (www.agcocorp.com) is a global manufacturer of agricultural equipment and related replacement parts. AGCO offers a full product line including tractors, combines, hay tools, sprayers, forage, tillage equipment and implements, which are distributed through more than 3,600 independent dealers and distributors in more than 140 countries worldwide. AGCO products include the following well-known brands: AGCO(R), Challenger(R), Fendt(R), Gleaner(R), Hesston(R), Massey Ferguson(R), New Idea(R), RoGator(R), Spra-Coupe(R), Sunflower(R), Terra-Gator(R), Valtra(R), and White(TM) Planters. AGCO provides retail financing through AGCO Finance. The company is headquartered in Duluth, Georgia, and in 2005, had net sales of $5.4 billion.
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CONTACT: AGCO Public Relations
Cheryl Thompson, 770-232-8073
cheryl.thompson@agcocorp.com
SOURCE: AGCO Corporation
