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One week after losing its two top executives in a plane crash, AGCO Corp. consummated a key acquisition the two men had negotiated a month earlier.
"It was difficult and challenging for ever one to perform because of our personal feelings but we all pulled together," said Robert Ratliff, who replaced his best friend as president and CEO of the farm equipment manufacturer. "There was a true sense here of doing this for John and Ed."
John Shumejda, 56, the company's president and CEO at the time, and Edward Swingle, 60, senior vice president of sales and marketing worldwide, were killed Jan. 4 along with three pilots when their corporate jet crashed on takeoff in Birmingham, England. The company's board of directors added president and CEO to Ratliff's title of chairman within hours.
Duluth. Shumejda had arranged the meeting a month earlier as part of AGCO's purchase of Caterpillar's track and tractor manufacturing division as an opportunity for AGCO to convince more of the distributors to sell the tractors at their dealerships.
The deal was vital to the company and the meeting was everything Shumejda had hoped it would be, Ratliff said.
"It was a tough decision but this has more potential than anything we've ever done," Ratliff said. "It's an opportunity beyond belief for us."
The following day, many of the distributors stayed for the memorial service in the atrium of AGCO's headquarters, a building designed by Shumejda. The...