Scott Amoye, head of Mondelez Intl’s cocoa business, has left his position after five years, Reuters reports.
Amoye’s departure comes at a crucial moment in the cocoa industry, as chocolate makers like The Hershey Co. hike up retail prices in response to the rising costs of cocoa beans and dairy.
He will be replaced by Switzerland-based Udo Kagerbauer, who has been named director for global cocoa commodity price risk management.
Amoye, who says he expects to continue in commodities, began working at Cadbury in 2009 as v.p. of global commodities. When Kraft Foods bought Cadbury in 2010, he was appointed senior director of global commodities for coffee and cocoa.
In 2012, Kraft created Mondelez as a spin-off into the chocolates and snacks business and named Amoye senior director for global commodities sourcing and risk. He was in charge of managing the global cocoa and cocoa products teams.
Prior to joining Cadbury, Amoye had 20 years of experience as a cocoa trader at commodities trader ED&F Man.