ADM Realigns Business Segments to Further Accelerate Growth
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Creates Carbohydrate Solutions, Nutrition, Oilseeds and Origination
segments to enhance agility, drive innovation and align business
operations to further improve the customer experience - Announces leadership appointments to support the new structure
CHICAGO–(BUSINESS WIRE)–Archer Daniels Midland Company (NYSE: ADM) today announced the
realignment of its business segments across four units – Carbohydrate
Solutions, Nutrition, Oilseeds and Origination. The new segments better
reflect ADM’s operating structure and will enable the company to further
highlight the differentiation of its product and service offerings and
enhance its ability to respond to the evolving needs of customers.
“The changes we are announcing today enhance and accelerate our efforts
to deliver value-added, differentiated products and services and drive
growth across our entire portfolio,” said ADM Chairman and CEO Juan
Luciano. “We have made tremendous progress over the last several years
in creating a more agile and efficient company, and these changes
position us to build on that momentum as we work to further enhance the
customer experience and provide even greater value to customers and
shareholders.”
ADM has appointed the following leaders from its existing management
team to lead the new segments:
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Chris Cuddy will expand his role as head of Corn Processing to lead
the Carbohydrate Solutions business unit, which will include
the current Corn and Milling operations. -
Vince Macciocchi will expand his leadership role as head of Nutrition
to include the Animal Nutrition and Bioactives businesses in addition
to Wild Flavors & Specialty Ingredients (WFSI). -
Greg Morris will continue to lead the Oilseeds business unit,
which will remain unchanged. -
Stefano Rettore has been named senior vice president and president, Origination,
which will include the current Agricultural Services business,
excluding Milling. He will also continue to serve as the company’s
chief risk officer.
ADM’s new business segments will be reflected in its financial results
beginning with the first quarter of 2018, presented on May 1, 2018.
ADM also announced leadership changes to further accelerate its existing
Readiness initiative to reduce costs, improve efficiency and standardize
its business processes and systems to drive improved analytics and
decision-making across the organization. Joe Taets will assume the newly
created role of senior vice president and president, Global Business
Readiness. In this new role, Taets will leverage the success in
delivering cost savings, efficiency and business process initiatives
within Ag Services to scale the implementation of these initiatives and
others on a global enterprise-wide basis.
In addition, Kristy Folkwein has been appointed senior vice president
and chief information officer, where she will focus on ensuring the
quality and integrity of ADM’s data companywide, continuing to drive
process improvements working closely with Joe Taets; providing
leadership to the global shared services organization; and enabling
analytics that drive sound, well-informed business decisions.
About ADM
For more than a century, the people of Archer Daniels Midland Company
(NYSE: ADM) have transformed crops into products that serve the vital
needs of a growing world. Today, we’re one of the world’s largest
agricultural processors and food ingredient providers, with
approximately 31,000 employees serving customers in more than 170
countries. With a global value chain that includes approximately 500
crop procurement locations, 270 ingredient manufacturing facilities, 44
innovation centers and the world’s premier crop transportation network,
we connect the harvest to the home, making products for food, animal
feed, industrial and energy uses. Learn more at www.adm.com.
Contacts
Archer Daniels Midland Company
Media Relations
Colin
McBean
[email protected]
312-634-8484
or
Investor
Relations
Mark Schweitzer
217-451-8286
