1816 ET - Agco says director Mallika Srinivasan's plan to ask shareholders to vote next spring on separating the chairman and chief executive's jobs is "another misguided reaction" to Agco's decision to cancel its contract with Srinivasan's company, Tractor and Farm Equipment, or TAFE, to build and distribute Agco's Massey Ferguson-brand tractors in India, Turkey and the Middle East. Agco says in a regulatory filing that "TAFE's own interests are fundamentally misaligned with other Agco's shareholders." Srinivasan, who is Agco's largest shareholder, has been critical of Agco Chairman and CEO Eric Hansotia's management of the farm-equipment company. Agco flat in after hours trading, at $101.04. (robert.tita@wsj.com)
(END) Dow Jones Newswires
November 25, 2024 18:16 ET (23:16 GMT)
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