New Corporate Structure Aligns Operations for Enhanced Performance
DECATUR, Ill., Aug. 22 /PRNewswire-FirstCall/ -- Archer Daniels Midland Company (NYSE: ADM) chairman, chief executive officer and president, Patricia Woertz today announced an organizational restructure of the Company, designed to enhance ADM's operating efficiency and provide clearer lines of responsibility for long-term success. The reorganization creates a single operations group, responsible for the Company's origination, merchandising, processing and marketing functions.
"The reorganization represents the next step in our process to position ADM for continued success. We have defined our longer-term strategy and areas of focus; now we are aligning our organization and leadership to execute our business plans," said Woertz.
-- John Rice, executive vice president, will lead the new Commercial &
Production division, with responsibility for global origination,
merchandising, processing and marketing across ADM's major business
-- David Smith, executive vice president, secretary and general counsel,
will take on additional responsibility for Natural Health and
Nutrition, Aviation and Internal Audit.
-- Steve Mills, senior vice president, Strategic Planning, will assume
additional responsibility for Specialty Food Ingredients, ADM Investor
Services and Hickory Point Bank.
In addition, Projects and Engineering will report jointly to Michael
Pacheco, vice president and chief technology officer, and John Rice.
Marketing communications will report to Victoria Podesta, vice president,
Corporate Communications. Bill
|SOURCE Archer Daniels Midland Company|
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