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Friday, 4 January, 2002, 17:41 GMT
Massey Ferguson boss dies in plane crash
Massey Ferguson
Agco: Best known for Massey Ferguson tractors
Agco, the US's third biggest farm equipment maker, has confirmed that its chief executive and another executive were among the dead in the plane crash at the UK's Birmingham International Airport.

The Duluth, Georgia-based company said John Shumejda, president and chief executive, had died along with Ed Swingle, senior vice president for sales and marketing and the plane's pilots.

Agco, a company with more than 7,500 dealers in 140 countries, is best known for making Massey Ferguson tractors.

It derives more than half of its sales from operations outside North America.

Its plants include a 1,800-employee operation at Banner Lane, Coventry.

The UK plant last year received a 1.7m cash injection from its owner.

Management buyout

Agco said executive chairman Robert Ratliff would take on the duties of president and chief executive on an interim basis.

In 2000, the company had sales worth $2.3bn and 9,800 employees.

Mr Shumejda had occupied his position since February 1999, having previously held other senior management positions.

He was also part of the management buyout of the company in 1990.

Agco shares dipped 10 cents to $15.73 in Friday morning trading on the New York Stock Exchange.

See also:

04 Jan 02 | England
Five die in jet crash
03 Sep 01 | Business
India's tractors plough into the US
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