In light of the COVID-19 virus outbreak and the lack of certainty of both the duration and magnitude of its impacts, AGCO is withdrawing its sales, earnings and other guidance. Production has been significantly reduced or suspended in several of the company’s European facilities.
Martin Richenhagen, Chairman, President and Chief Executive Officer of AGCO Corporation, has been named a Chevalier (Knight) of the Légion d'Honneur (Legion of Honor) by the government of France during a recent ceremony in Duluth, Georgia, USA.
Improved market demand in North America and healthy industry conditions in Western Europe supported sales and margin improvement in those regions resulting in better than expected sales and earnings growth for the company.
Can you think of a Fortune 500 CEO who's managed an Olympics team to a gold medal while simultaneously occupying the corner office? Think no further than Duluth-based AGCO (No. 292 on Fortune's list with $8.8 billion in sales) and its chairman, president and CEO, Martin Richenhagen.
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