Cargill, the largest privately held company in the United States, announced Monday the appointment of Brian Sikes as president and CEO.

Sikes, who currently serves as the feed giant’s COO, will assume his new role on Jan. 1. A 31-year Cargill veteran, he will be the 10th CEO in the company’s 157-year history.

The company also announced the appointment of serving CEO Dave MacLennan as executive chair of the board.