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      Olam Group publishes 2025 Annual Report “From Vision to Value” and announces Board and management changes

      Press release 10th Apr, 2026

      Singapore

      • Chairman Lim Ah Doo, Co-Founder, Executive Director and Group CEO Sunny Verghese to step down from Olam Group Limited on conclusion of its 5th AGM on April 27, 2026

      • Deputy Chairman Yap Chee Keong will assume role as Chairman

      • Board plans to appoint a Lead Independent Director, with the search for another independent director underway

      • ofi CEO Shekhar Anantharaman to be appointed as Executive Director on the Board

      • Management changes, new management structure and executive appointments to support operating groups and execution of Re-organisation Plan

        • Group CFO N. Muthukumar to step down at the conclusion of the 5th AGM

        • Venkataraman Krishnan to be appointed as new Group CFO on the same day 

        • Gautam Wadhwa to be appointed as CEO of OGH1  on April 20, 2026

      Olam Group Limited (“Olam Group” or “OGL”) has published its 2025 Annual Report entitled “From Vision to Value”, which comprises three comprehensive components – Strategic Report, Governance Report and Financial Report – and highlights its improved financial performance, achievements made in its continuing operations and in the Updated 2025 Re-organisation Plan as well as future plans for the Group.

      The Group also announces several Board and management changes and its plans for leadership renewal as it continues to execute its 2025 Updated Re-organisation Plan. 

      A new chapter of leadership

      Board renewal

      Olam Group Chairman, Non-Executive and Independent Director, Mr Lim Ah Doo, will step down at the end of the Group’s Fifth Annual General Meeting (5th AGM) on April 27, 2026, after having completed his nine-year tenure as an Independent Director. Mr Yap Chee Keong, Deputy Chairman and Chair of the Board Executive Committee (Board ExCo) and the Board Risk Committee, will take over as Chairman to ensure continuity as the Group executes its Re-organisation Plan.

      Co-Founder, Executive Director and Group CEO Mr Sunny Verghese will also step down from OGL at the conclusion of the 5th AGM. 

      Following the conclusion of the 5th AGM, the Board will appoint a Lead Independent Director from its existing bench of Independent Directors, and CEO of ofi Mr Shekhar Anantharaman (A. Shekhar) as Executive Director of Olam Group.

      In line with the Group’s Board Diversity Policy, the Board Nomination & Remuneration Committee will target to identify and appoint a suitable and qualified female candidate to add to the Board’s bench of Independent Directors in the second half of 2026. 

      On March 31, 2026, the Board had welcomed Mr Simon Nigel Cooper and Mr Christian Chin as new Independent Non-Executive Directors.

      Together, the existing Directors and new Directors to be appointed will bring extensive experience that strengthen the collective wisdom and stewardship of the Board, with Independent Directors making up a majority of the renewed Board. This reflects the Board’s commitment to strengthening its corporate governance and transparency standards as the Group advances its Re-organisation Plan.  

      Management transition

      As the sale of Olam Agri to SALIC progresses, the Group will also proceed with its planned management transition to better reflect the Group’s focus on its continuing businesses – ofi and OGH.

      At the end of the Group’s 5th AGM, Mr Sunny Verghese will step down as Group CEO of OGL as part of this planned leadership transition. He will continue to focus on his role as CEO of Olam Agri. 

      Similarly, Group CFO Mr N. Muthukumar will step down on April 27 and will continue to focus on his role as COO of Olam Agri which he assumed since March 2025. 

      The Group will appoint Mr Venkataraman Krishnan as its new Group CFO, who will be responsible for overseeing the overall financial strategy and management functions, including accounting, treasury, tax, compliance and investor relations of the Group. 

      Mr Krishnan will be joined by Mr Joydeep Bose, Group Chief Human Resources Officer, and Mr Rajeev Kadam, Global Head, Risk Management, Internal Audit and Insurance – each a long-serving member of the Group’s senior executive team – to constitute the Group’s Corporate Office. 

      The Group will also appoint Mr Gautam Wadhwa as CEO of OGH, who will be primarily responsible for the successful monetisation and divestments of the assets and businesses in OGH. Gautam is a senior transformation and value-creation leader with over two decades of experience spanning consulting, investing, operations and entrepreneurship. His career has been defined by leading complex change mandates – working across multiple ownership models and geographies to stabilise, transform and ultimately reposition businesses for long-term value or exit. 

      ofi will continue to be led by its CEO Mr A. Shekhar.

      Mr A. Shekhar continues to report to the ofi Board whilst the Corporate Office and Mr Wadhwa will report directly to the Board Exco.

      The Board ExCo will continue to support the Group’s leadership team, ensuring continuity and stability during this transition as it executes the Re-organisation Plan.   

      Lim Ah Doo

      Olam Group Chairman, Non-Executive and Independent Director, Mr Lim Ah Doo, said: “The Group embarks on a new chapter of leadership from a position of strength, underpinned by strong foundations built through years of disciplined stewardship, giving the renewed Board a stable platform from which to steer the Group confidently into the future.”

      “The Board and I express our sincere appreciation to Mr Verghese for his founding of the Group, the many years of dedicated service and for the lasting impact he has had in shaping the Group’s strategy, growth and global footprint.”

      Sunny


      Olam Group Co-Founder and CEO, Sunny Verghese,       said: “The past year marked a defining milestone in our Re-organisation journey as we took decisive steps to improve the performance of our underlying operating groups, strengthen the Group’s balance sheet, enhance their resilience and unlock value for our shareholders.”

      “It has been an honour to co-found and lead OGL for the last 37 years and I am filled with immense gratitude, pride and satisfaction reflecting on our journey together in successfully building OGL into a respected, global market leader with significant positive impact in our industry.”

      Mr Verghese, who is also CEO of Olam Agri, added: “As I transition from my role as Co-Founder, Executive Director and Group Chief Executive, I will continue to focus along with my leadership team on the next chapter of profitable growth and value creation for Olam Agri.”  

      Lim Ah Doo


      Olam Group Deputy Chairman, Non-Independent & Non-Executive Director, Mr Yap Chee Keong,       said: “Together with the refreshed leadership team, we will carry the Group forward into its next phase of development, where our strategy stays unchanged. We remain committed to execute the Re-organisation Plan responsibly and I am confident in our ability to crystallise value for our shareholders.”

      2025 Annual Report “From Vision to Value”

      Read about the strategy and plans of Olam Group’s businesses in the Strategy Report:

      Additionally, the Group has published its “Supplementary Sustainability Disclosures 2025”, which is a companion to the main report and contains all relevant sustainability data aligned with GRI standards. This is available on its website at olamgroup.com/investors/annual-reports.html.
       

      5th Annual General Meeting 

      Date:April 27, 2026
      Time:2.00 p.m. Singapore time
      Venue: In-person at Simpor Junior Ballroom, Level 4, Marina Bay Sands Convention Centre, 10 Bayfront Avenue, Singapore 018956 (no pre-registration required) or virtual meeting (pre-registration required)
      Voting mechanics: “Live” voting in real-time during the AGM. Please refer to the Notice of AGM for more details.

      Notes to Editors

      This release should be read and understood only in conjunction with Olam Group Limited’s announcements on the same subject lodged with SGXNet on April 10, 2026. See Appendix for the management profiles. 

      1 Remaining Olam Group, part of Olam Group Limited, to be known as OGH.
       

      Back to All News

      About Olam Group

      Olam Group is a leading food and agri-business supplying food, ingredients, feed and fibre to 20,000+ customers worldwide. Our value chain spans over 60 countries and includes farming, processing and distribution operations, as well as a global network of farmers.

      Through our purpose to ‘Re-imagine Global Agriculture and Food Systems’, Olam Group aims to address the many challenges involved in meeting the needs of a growing global population, while achieving positive impact for farming communities, our planet and all our stakeholders.

      Headquartered and listed in Singapore, Olam Group is a component stock of the iEdge Singapore Next 50 index and a Singapore constituent of market indices including the FTSE Global All World Ex US Index, FTSE Developed All Cap Ex US Index, MSCI World ESG Screened Index, MSCI EAFE Small Cap Index and MSCI EAFE Investable Market Index (IMI). It is also part of the FTSE4Good Index Series, a global sustainable investment index series developed by FTSE Russell, following a rigorous assessment of Olam’s supply chain activities, impact on the environment and governance transparency.

      More information on Olam can be found at www.olamgroup.com. Follow @olam: 

      Olam is located at 7 Straits View, Marina One East Tower #20-01, Singapore 018936.
      Telephone: +65 63394100, Facsimile: +65 63399755.

      Issued on behalf of Olam Group Limited by:

      We. Corporate Advisors, 3 Harbourfront Place, #12-02/04, Harbourfront Tower 2, Singapore 099254

      For further information, please contact:

      Contacts for Olam Investor Relations
      Contacts for Olam Group and ofi Corporate Communications
      Contacts for WECOMMUNICATIONS

      Appendix 

      Mr Venkataraman Krishnan (Venkat) joined Olam in 2006 as part of the Strategic Investments (SIBD) team. He was the Global Head of SIBD from 2017 to 2021. During his stint in SIBD, he was involved in several transformative acquisitions, including those in grains milling in Africa, dairy manufacturing in New Zealand, joint venture with Wilmar and SIFCA group in Cote d’Ivoire and cotton ginning in Australia, US and Brazil. He also played a catalytic role in the rationalisation of Olam’s portfolio, including the divestments of several businesses. Venkat led Olam in the US$1 billion development financing from global and regional institutions such as IFC, ADB, AfDB and EBRD. Venkat was appointed Chief Financial Officer of OGH in 2021. Venkat holds a Bachelor of Engineering degree from Thiagarajar college of Engineering, Tamilnadu, India, a Post Graduate Diploma in Management from Indian Institute of Management, Kolkata, India and is a CFA Charterholder.

      Mr Joydeep Bose joined Olam in 2003 and has held the role of Group Chief Human Resources Officer since. He established the Group’s human resources function and has led its evolution, supporting Olam’s growth, transformation, and organisational restructuring across businesses and geographies. In his current role, Joydeep oversees the Group’s people strategy with a focus on leadership continuity, workforce transitions, and incentive and governance frameworks aligned to business performance and value creation. He works closely with the Group CEO, Boards and senior leadership teams across the Group. Joydeep holds an MBA from Xavier Labour Relations Institute (XLRI), India and a Bachelor of Engineering.

      Mr Rajeev Kadam began his career with the Kewalram Chanrai Group in Sierra Leone in 1990 before joining Olam in 1994. Over the past three decades, he has worked in the field of internal audit and risk management and was pivotal in the establishment and development of Olam’s Internal Audit and Risk Management functions. Rajeev is currently the President and Global Head of Internal Audit. Rajeev holds a Bachelor of Commerce from the University of Bombay with professional qualifications from The Institute of Chartered Accountants and the Institute of Internal Auditors. He is also a Certified Internal Auditor and previously served as a Governor on the Board of The Institute of Internal Auditors, Singapore (2005 to 2008).

      Mr Gautam Wadhwa is a senior transformation and value-creation leader with over two decades of experience spanning consulting, investing, operations and entrepreneurship. His career has been defined by leading complex change mandates – working across multiple ownership models and geographies to stabilise, transform and ultimately reposition businesses for long-term value or exit. He began his career at McKinsey & Company before joining Temasek Holdings, where he was involved in large-scale investments across regions and sectors. Gautam then moved into leadership roles, including founding and exiting his own business. His later roles spanned across private equity backed platforms and diversified portfolios where he led complex M&A transactions and drove turnaround and transformation efforts across a range of industries.

      Also in the News

      Press release
      27th Apr, 2026

      Olam Group announces completion of 44.58% stake sale in Olam Agri to SALIC

      Olam Group has completed the Tranche 1 sale of a 44.58% stake in Olam Agri to SALIC for approximately US$1.88 billion, based on an implied 100% equity valuation for Olam Agri of US$4.00 billion and closing adjustments Olam Agri becomes majority 80.01% owned by SALIC and a 19.99% owned associated company of Olam Group At completion of Tranche 2 within three years, Olam Agri will become a 100% owned subsidiary of SALIC Olam Group remains focused on executing the Updated 2025 Re-organisation Plan to unlock value for shareholders Olam Group Limited (“Olam Group”, “OGL”, the “Company”, or together with its subsidiaries, “the Group”) has announced that its wholly-owned subsidiary, Olam Holdings Pte. Ltd. has completed the Tranche 1 sale of 44.58% stake in Olam Agri to the Saudi Agriculture & Livestock Investment Company (“SALIC”), the food and agriculture investment arm of Public Investment Fund of the Kingdom of Saudi Arabia, for US$1.88 billion (approximately S$2.4 bill
      Read more
      Press release
      6th Apr, 2026

      Olam Group announces proposed divestment of Mindsprint to Wipro as part of its Re-organisation Plan

      Singapore  Olam Group to divest its IT and digital services business, Mindsprint, to global technology services and consulting company, Wipro, for US$375 million, marking another step forward in its Updated 2025 Re-organisation Plan1.  Awards an eight year strategic transformation deal to Wipro with a committed annual spend of US$100 million.  The combined capabilities of both Mindsprint and Wipro will accelerate Olam Group’s mission-critical programmes, strengthen its core operation and deliver scalable outcomes.  Olam Group Limited (“Olam Group” or the “Company”, together with its subsidiaries “the Group”) today announced that it has entered into a definitive agreement with Wipro Limited (“Wipro”) to sell its 100% stake in Mindsprint Pte. Ltd. (“Mindsprint”) for a cash consideration of US$375 million, subject to closing adjustments (the “Proposed Sale”).  The Proposed Sale is in line with the Group’s Updated 2025 Re-organisation Plan to respons
      Read more
      Press release
      18th Mar, 2026

      ofi secures inaugural EUR financing facility of EUR 1,100 million

      Singapore  Olam Group Limited (“Olam Group”) announced today that its wholly owned subsidiary, olam food ingredients (“ofi”), a global leader in naturally good food and beverage ingredients, has secured its inaugural dual-tranche EUR syndicated loan facility aggregating EUR 1,100 million (the “Facility”). Rishi Kalra, Executive Director and Group CFO of ofi said: “I am delighted to announce the successful completion of our inaugural EUR financing. This facility demonstrates our ability to tap into diverse pools of capital to further diversify our borrowing mix. It enhances our robust liquidity position and provides financial flexibility to execute our strategy and deliver value to our stakeholders.” The Facility has Olam Treasury B.V. (“OTBV”) as a Borrower. The Facility is initially guaranteed by Olam Group Limited which would transfer to ofi Group Limited following the planned IPO and demerger of ofi. Proceeds from the Facility will be applied towards refinancing of ofi’s ex
      Read more

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