Singapore-listed Olam Group’s founder and group CEO Sunny Verghese, along with several other senior executives, will step down later this month, as the conglomerate presses ahead with a reorganization plan.
Verghese, who co-founded Olam nearly four decades ago, will relinquish his role as group CEO at the conclusion of the company’s annual meeting on April 27, Olam said on Friday.
He, however, will remain chief executive of Olam Agri, the food staples and grains division that is in the process of being sold to Saudi agricultural investment firm SALIC.
 |
|
Sunny Verghese, co-founder and group CEO of Olam Group. Photo from the company’s website |
Chairman Lim Ah Doo will also step down, while CFO N Muthukumar will exit, joining Verghese to help run Olam Agri as the COO, which he assumed since March 2025.
The food and agri-business conglomerate will appoint Venkataraman Krishnan as its new group CFO, while deputy chair Yap Chee Keong will take over the chairman position.
The company has been undergoing a transformation since 2020, reorganizing its operations into three distinct units: Olam Agri, ingredients maker ofi, and Remaining Olam Group.
The restructuring aims to simplify the corporate structure, reduce debt levels and give investors clearer visibility into each business segment.
