AGCO Names New Ptx Leader To Accelerate Smart Farming Solutions And Growth

(MENAFN- PR Newswire) "I am thrilled to welcome Brian to the AGCO team as the leader of our exciting PTx technology portfolio," said Eric Hansotia, Chairman, President and CEO. "His passion for agriculture and ability to inspire teams will accelerate the momentum building in our entire PTx organization through a focus on retrofit innovation and farmer education. Brian's extensive commercial and ag tech innovation background, expertise in channel development and successful track record in managing complex technology platforms will serve our people and farmers well. I am confident under Brian's leadership, PTx will achieve our goal of $2 billion in precision ag sales by 2029 and help us deliver our vision to be the trusted partner for industry-leading, smart farming solutions."

Sorbe spent 14 years at Topcon Positioning Systems in key leadership roles, including Senior Vice President and General Manager. At Topcon, he led cross-functional teams across many areas including technology development for mixed fleets, product strategy, marketing and M&A integration, consistently driving farmer-focused solutions to market. Sorbe's career also spans construction and industrial automation, but agriculture has always been at the core. Raised on a farm in Iowa, Sorbe began his precision ag journey at Ag-Chem Equipment in Jackson, Minnesota, now part of AGCO following the 2001 Ag-Chem acquisition.

Sorbe will be based in Tremont, Illinois, which is a key PTx site. He holds a Bachelor of Business Administration degree from the Purdue University system. Sorbe's postgraduate work includes certifications in AI & Machine Learning and Agricultural Autonomy & Robotics as well as a Master of Business of Administration program.

Forward Looking Statement

Certain statements in this release are forward-looking, including statements with regard to the future performance and operation of the Company. Actual results could differ materially from those reflected in this release for a range of reasons, including: general economic and capital market conditions; availability of credit to our retail customers; the worldwide demand for agricultural products; grain stock levels and the levels of new and used field inventories; cost of steel and other raw materials; energy costs; performance and collectability of the accounts receivable originated or owned by AGCO or our finance joint ventures; government policies, tariffs and subsidies; uncertainty regarding changes in the international tariff regimes (including implementation of new tariffs and retaliatory measures) and product embargoes and their impact on the cost of the products that we sell; weather conditions; interest and foreign currency exchange rates; limitations on ability to repatriate funds; inflation, including in individual countries that have been designated as highly inflationary; pricing and product actions taken by competitors; commodity prices, acreage planted and crop yields; farm income, land values, debt levels and access to credit; pervasive livestock diseases; production disruptions, including due to component and raw material availability; production levels and capacity constraints at our facilities, including those resulting from plant expansions and systems upgrades; integration of recent and future acquisitions, including the completed acquisition on April 1, 2024 of the Trimble ag assets and formation of the joint venture, PTx Trimble, and the ability to obtain the expected results; our expansion plans in emerging markets; supply constraints, including energy shortages; our cost reduction and control initiatives; our research and development efforts; dealer and distributor actions; regulations affecting privacy and data protection; technological difficulties; the impact of future pandemics on product demand and production; the occurrence of future cyberattacks, including ransomware attacks; the conflict in Ukraine; and restrictive covenants, payment obligations and other factors related to our level of indebtedness. Any forward-looking statement speaks only as of the date on which such statement is made, and we disclaim any obligation to update the information contained in such statement to reflect subsequent developments or information except as required by law.

About AGCO

AGCO (NYSE: AGCO ) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers value to farmers and OEM customers through its differentiated brand portfolio including leading brands Fendt®, Massey Ferguson®, PTx and Valtra®. AGCO's full line of equipment, smart farming solutions and services helps farmers sustainably feed our world. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $11.7 billion in 2024. For more information, visit .

SOURCE AGCO Corporation

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