AGCO Corporation (NYSE: AGCO) announced a restructuring of its executive leadership team, effective Oct. 5, 2026, that reduces the senior team by one member and consolidates key functions under existing leaders.

Stefan Caspari, previously Senior Vice President of Customer Success & North America Ag, has been named Senior Vice President and General Manager of Fendt/Valtra & Product Management. He will retain oversight of AGCO's North American agricultural business while taking on global leadership of the Fendt and Valtra brands.

Torsten Dehner, who previously held the Fendt/Valtra and Product Management role, stepped down Oct. 5 and will remain with the company in Switzerland to support the transition.

Caspari joined AGCO in 2014 and has held roles in commercial operations, global strategy, smart farming technology and multi-brand governance. He holds a degree in Agricultural Engineering from the University of Bonn and completed Harvard Business School's Advanced Management Program.

The restructuring also includes two other leadership changes. Luis Felli will become Senior Vice President and General Manager of Massey Ferguson, Parts & Customer Support, adding responsibility for AGCO's global aftersales, parts and customer support operations. Damon Audia will become President of PTx, Corporate Strategy & Distribution, adding oversight of AGCO's Global Distribution Management organization.

Eric Hansotia, AGCO's Chairman, President and CEO, attributed the changes to a desire to connect enterprise functions more directly to brand execution and dealer performance.