MINNEAPOLIS (AP) — Cargill's board has named President and Chief Operating Officer David W. MacLennan as its next CEO as part of its succession plans.

MacLennan will take over the post from the 62-year-old Greg Page, who will serve as executive chairman of the agribusiness company. Page has been CEO and chairman since 2007.

The 54-year-old MacLennan will keep the title of president and continue as a board member. He has worked at Cargill since 1991 and served as president and COO since 2011. His CEO appointment is effective on Dec. 1.

Privately held Cargill also appointed Emery N. Koenig as vice chairman. The 57-year-old Koenig will continue to serve as chief risk officer. The company said Wednesday that 56-year-old Paul Conway will continue to serve as a vice chairman as well.