ADM Realigns Business Segments to Further Accelerate Growth
March 19 2018 - 11:52AM
Business Wire
- 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
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:
- 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.
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Archer Daniels Midland CompanyMedia RelationsColin
McBeanmedia@adm.com312-634-8484orInvestor RelationsMark
Schweitzer217-451-8286
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