Jay Debertin is president and CEO of CHS Inc., a global energy, grains and foods company and the largest member-owned cooperative in the United States, which employs 11,000 people and represents 600,000 farmer-owners nationwide.
CHS supplies energy, crop nutrients, grain marketing services, animal feed, food and food ingredients along with financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex brand refined fuels, lubricants, propane and renewable energy products.
Weather challenges for farmers—along with continued uncertainty in the agribusiness sector due to the ongoing trade war between the U.S.—dampened CHS’ fiscal third quarter results, though revenue and earnings rose for the first nine months.
The company posted net income of $54.6 million for the third quarter of fiscal 2019, which included one-time pre-tax gains of $19.2 million related to the completion of the purchase of West Central Distribution. For the restated third quarter of fiscal 2018, the company’s net income was $181.8 million, which included $124.1 million in one-time pre-tax gains.
However, for the first nine months of fiscal 2019, net income rose 21.5 percent, to $650.9 million, from the restated first nine months of fiscal 2018.
“Though our net income was down compared to the prior year third quarter of fiscal 2018, the first nine months of fiscal year 2019 have been strong,” Debertin said in the press release. “During the third quarter, we completed the acquisition of the remaining 75 percent ownership interest in West Central Distribution LLC, a full-service wholesale distributor of agronomy products headquartered in Willmar, Minnesota. The acquisition demonstrates our commitment to provide more of the products, services and technology our owners need to compete.”
Debertin was named CEO in 2017 after 33 years in leadership roles in the business. In addition to his role as chief executive officer at CHS, Debertin serves as chairman of the board for Ventura Foods LLC.
Previously, Debertin was executive vice president and chief operating officer for the company’s diverse energy operations and processing and food ingredients. He joined CHS in 1984 in its petroleum division, holding a variety of leadership positions including overseeing energy marketing, crude oil supply, refining, pipelines and terminals, trading and risk management, and transportation.
He’s No. 100 on Chief Executive and RHR International’s CEO1000 Tracker, a ranking of the top 1,000 public/private companies
Headquarters: Inver Grove Heights, MN
Education: Bachelor’s degree in economics from the University of North Dakota – Grand Forks. Master of Business Administration degree from the University of Wisconsin – Madison.
First joined company: 1984
Prior to joining CHS: N/A
Named CEO: 2017