Ag Processing Inc CEO J. Keith Spackler to Retire Aug. 31

Omaha, NE — Ag Processing Inc a cooperative has announced that J. Keith Spackler, Chief Executive Officer, has informed the Board of Directors of his intention to retire after conclusion of the current fiscal year on August 31, 2021.

Spackler will continue in his role as CEO until a successor is named and the transition in leadership is complete.

"On behalf of the Board of Directors and everyone at AGP, I want to thank Keith for his leadership, dedication, and commitment during his 36 years of service to the Company,” said Lowell Wilson, Chairman of the AGP Board of Directors.

“Throughout his tenure, Keith advanced a work environment and business culture that allowed AGP to generate outstanding financial and operational results, and a strong strategic position.

"In doing so, the Company successfully achieved its mission to add value for its cooperative members and their producer-owners.”

“Working with so many exceptional people in achieving success at AGP has been a tremendous honor and privilege,” said Spackler.

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“The dedication and effectiveness of the AGP Board, management, and employee teams allow us to consistently add value and returns for our cooperative owners.

We have great confidence in the strength of our overall team and the continued ability of AGP to capitalize on future opportunities.

"I am fortunate and proud to be a part of the cooperative system dedicated to serving agriculture.”

During Spackler’s leadership tenure, AGP achieved substantial growth in volumes and profitability, focusing on its core businesses.

Over the past nine years, the Company made extensive investments to expand capacity and improve efficiencies at each of its ten soybean processing plants, four refineries, three biodiesel plants, and export operations.

Highlights include a doubling of capacity at its Hastings, Nebraska processing facility, addition of a new processing plant in Aberdeen, South Dakota, completion of a new refinery and doubling of its biodiesel plant at Sergeant Bluff, Iowa, as well as reinvesting at all facilities.

At the same time, AGP substantially increased earnings and cash returns to its cooperative owners, while maintaining an extremely strong financial position.

Spackler’s career spans over 40 years in agribusiness. After working in commodities and economic analysis, he joined AGP in May 1985.

With responsibilities in business analysis, strategic planning, and finance, Spackler was promoted to roles of expanded responsibility throughout his career.

He served from 2001-2012 as AGP’s Chief Financial Officer and was named Chief Executive Officer in September 2012. He remains active at the board level with various cooperative-related associations.

In connection with Spackler’s upcoming retirement, the AGP Board has initiated a process to identify the Company’s next CEO.

About AGP:

AGP (www.agp.com) is a leading agribusiness with primary operations as a major U.S. soybean processor/refiner producing and marketing soybean meal, refined soybean oil, and biodiesel.

AGP businesses also include agricultural product trading in domestic and international markets and numerous U.S. grain elevator operations.

With 2020 annual sales of over $4 billion, AGP is one of the nation's largest cooperatives, and is owned by 149 local and regional cooperatives representing over 200,000 farmer-producers across the United States. Corporate headquarters are in Omaha, Nebraska.

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