BOISE, Idaho — J.R. Simplot Co. has named Lawrence Hlobik, 57, as its new chief executive after Steve Beebe announced he would retire this summer.
Hlobik is a past president of the Boise-based company's AgriBusiness Group. Company officials said he was one of three internal candidates considered.
Hlobik joined Simplot in 1998 and has 27 years of experience in the fertilizer, chemical and agribusiness industry.
"The board expressed confidence in Mr. Hlobik's ability to lead the company in the years ahead," said company chairman Scott Simplot. "He is an effective and resourceful leader."
Beebe has been with the company for 32 years, including the past eight as chief executive. He joined the company in 1970 as a staff attorney.
"This is an important step in the succession process I had charted with the board," Beebe said, adding that he will help with the transition until he officially retires on Aug. 31.
Hlobik will take the helm of a company that has grown dramatically under Beebe's leadership. During Beebe's tenure, the company has increased its annual revenues from $2 billion to more than $3 billion. It also acquired major food processing operations in Australia and the United States, according to a company spokesman.
Hlobik, who will be the company's fifth chief executive since company founder J.R. Simplot retired in 1973, said he appreciates the confidence the board has placed in him.
"The agribusiness industry will continue to be challenged by change, but I'm confident this company is positioned to meet those challenges and compete effectively," he said.
Before joining Simplot, Hlobik served as chief executive of Terra Nitrogen and senior vice president of Terra Industries in Tulsa, Okla. He currently serves on the boards of the Fertilizer Institute and the Phosphate and Potash Institute.