Ceres Global Ag Corp. announced that Patrick Bracken has advised the company's Board of his intention to retire as President and CEO and will resign the positions effective June 1, 2016. Mr. Bracken, who oversaw the company's transition to an internal management structure and the buildout of the Northgate Commodities Logistics Hub, will continue to serve as a Director on the Ceres Board.

Mr. Bracken will also be responsible for the development and implementation of the company's strategic plan for non-grain activities at Northgate. The company's Board of Directors has named Robert Day as President and Interim CEO effective June 1, 2016. Mr. Day, who joined Ceres in 2015 and served as Vice President, Trading and Risk Management, brings more than 20 years of industry and international experience.

Mr. Day previously worked with Cargill and ED&F Man Ltd., in North America, Asia and Mexico in a variety of roles, including Managing Director Asia, and Commercial Director, Grain & Oilseed Supply Chain. Ceres also announced that consistent with its recent efforts to lower operating costs, the company has reduced the size of its Board from seven directors to five. The company's reconstituted board will consist of Pat Bracken, Harvey Joel, Gary Mize, Douglas Speers, and James Vanasek.