Going public is not its style, and with due respects it has reasons enough to prove its point! Being completely family owned, the parent entity - Cargill Incorporation – is not listed anywhere, which is the only reason why it is not listed in the Fortune 500 list! The company is present in 63 countries and is the world’s largest privately held corporation. With humble beginnings from a simple grain trading storage facility (in the US) in the year 1865, the company in 2006 alone earned $75.2 billion in revenues and $1.72 billion in profits. Cargill’s business activities include purchasing, processing, and distributing grain and other agricultural commodities, and the manufacturing and sale of livestock feed and ingredients for processed foods and pharmaceuticals. It has also made a successful foray into the financial sector which manages financial risks in the commodity markets. Warren Staley, the CEO, like many senior executives, he has been associated with it for over 30 years. He is also the third nonmember of the Cargill-MacMillan family. William Wallace Cargill – the founder set a rapid pace of growth for the company which also had its negatives as the company ran into high debts in the early 1990s. Then his son-in-law John MacMillan restructured its financial structure, which eventually saved it. He divested businesses unrelated to its profitable grain trading area and moved into food processing. In short, a company that has remained free of the vagaries of the stock scams and has done well to prove the logic behind being privately-held!
- An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative
Rashmi Bansal Editor & Publisher of Jammag Magazine caught Red-handed, for details please click on the following links: