AGCO Announces Executive Leadership Changes

AGCO Corporation has announced executive leadership changes affecting its finance and precision agriculture businesses. The appointments took effect August 1, 2026.

Damon Audia, previously senior vice president and chief financial officer, has been named president of PTx & Corporate Strategy. In the new role, Audia will oversee AGCO's precision agriculture business, as well as the company's corporate strategy and enterprise transformation teams.

Indira Agarwal, formerly vice president and chief accounting officer, has been appointed senior vice president and chief financial officer. She will also continue serving as chief accounting officer while AGCO conducts a search for her successor in that position.

The company also announced that Brian Sorbe, who served as president of PTx, has stepped away from AGCO to focus on other personal and professional priorities.

"Damon brings a deep understanding of our business and has partnered across every function to drive growth," said Eric Hansotia, AGCO's chairman, president, and CEO. "He has led significant transformation initiatives, including the formation of AGCO's PTx Trimble Joint Venture, and serves as the Chairman of the PTx Trimble Joint Venture Board. His strong Farmer-First focus will help drive long-term, profitable growth for our precision ag business. I also want to thank Brian for his many contributions to AGCO and PTx and wish him well for the future."

According to AGCO, PTx is a key part of the company's growth strategy, bringing together its precision agriculture technology solutions. Audia, who already leads corporate strategy, will continue overseeing that function in his new role to support the company's precision agriculture business.

Agarwal joined AGCO in 2024 as chief accounting officer. The company said she has led efforts to strengthen financial reporting, improve financial controls, and support initiatives focused on efficiency, structural profitability and mergers and acquisitions.

"Indira has been an outstanding leader for AGCO," said Hansotia. "She brings vast global experience and deep expertise across accounting, financial reporting, and M&A, along with a strong continuous-improvement mindset. She has earned the trust of her colleagues, our executive team, and our Board, and I am confident she will provide strong leadership as we continue to execute our strategy and create value for our shareholders. Damon and Indira have worked closely together, and this transition places two experienced enterprise leaders in roles where their strengths are closely aligned with AGCO's next phase of growth."

Audia has served as AGCO's chief financial officer since 2022, overseeing accounting, tax, treasury, mergers and acquisitions, financial planning and analysis, corporate reporting, strategy, investor relations, audit, and communications. Before joining AGCO, he held finance leadership roles at Kennametal, Carpenter Technology Corporation, The Goodyear Tire & Rubber Company, Delphi Corporation, and General Motors.

Agarwal brings more than 20 years of experience in corporate accounting, financial reporting, mergers and acquisitions, business integration, financial controls, and regulatory compliance. Before joining AGCO, she served as vice president, chief accounting officer, and controller at HF Sinclair Corporation, where she also led the company's financial planning and analysis organization.