AGCO Investor Steps Up Pressure to Refresh Board, Cut Costs (1)

AGCO Corp.’s largest shareholder unveiled a lengthy presentation that further outlines why it believes the tractor maker should overhaul its board, consider divestitures and cut costs.

The presentation by Tractors & Farm Equipment Ltd. given in a government filing came a day before AGCO’s analyst briefing intended to outline its latest strategies for the business. TAFE said the Duluth, Georgia-based company should grow its market share in various regions, reduce costs, restructure the portfolio and reset the corporate governance.

“Strategic missteps have resulted in slower growth, lower profitability and unacceptable returns on invested capital,” TAFE said. “We believe that ...