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 Camp, executive vice president, will assume responsibility for Asia Strategy. And Lew Batchelder, senior vice president, will be relocating to Hamburg, Germany, as a member of the management board of Alfred C. Toepfer International G.m.b.H., a global commodity trading firm majority-owned by ADM.
The reorganization will not only streamline operations for enhanced performance, it will also provide development opportunities for managers throughout the Company. "Installing a reporting structure that supports our business strategy is a vitally important move," said Woertz. "Equally important is the creation of an organization that provides development and growth opportunities for our future leaders. This will help ADM retain top talent and ensure our leaders are well prepared for the many, diverse challenges and opportunities our future will present."
About 30 individuals will have new reporting relationships or increased responsibilities, including the following promotions.
Reporting to John Rice:
-- Mark Zenuk, vice president, Global Oilseeds
-- Mark Bemis, vice president, Cocoa, Malt and Milling
-- Craig Huss, vice president, Transportation and Grain
-- Kevin Moore, production vice president, BioProducts and Industrials
-- Gary Towne, manager, Global Risk
Reporting to David Smith:
-- Stu Funderburg, assistant general counsel
The reorganization will require some positions and responsibilities to be reconfigured, and a limited number of managerial positions to be eliminated. ADM will be offering transition incentives to individuals whose positions are affected.
John Rice joined ADM in 1976 as a tax accountant. From 1978-1993 he held positions in merchandising and merchandising management. In 1993, he was elected vice president by the board of directors. Since then, Rice has held various senior management positions within the processing divisions, including president, North American Oilseeds and Food Oils, and senior vice president, Global Corn Processing, BioProducts and Food. In February of 2005, he was elected executive vice president with responsibility for Global Marketing and Risk Management.
David Smith has served in the ADM law department for over 25 years. As the executive vice president, secretary and general counsel for the Company, he has direct global responsibility for ADM's legal affairs. Smith also oversees Corporate Security and Services, Insurance, and the Office of Compliance and Ethics.
Steve Mills joined ADM in 1979, and has served in various senior treasury and accounting roles. He was named controller in 1994, and elected a vice president in 2000. He was appointed group vice president in 2002. Mills was named senior vice president, Strategic Planning for ADM in 2006. In this role, he leads the Company's long- and short-term strategy setting process. Steve is also responsible for information technology, business development, merger and acquisition coordination, and competitive intelligence analysis.
Mark Zenuk joined ADM in 2000. In 2005, he was elected vice president and managing director, Europe and Asia. Mark has served in a variety of management roles including vice president, Moormans/ADM-Animal Health and Nutrition; vice president, North American Oils and Fats; and division senior vice president, North American and European Oils, Fats and Biodiesel.
Mark Bemis joined ADM in 1983. During his tenure, Mark served in merchandising management positions in the oilseeds group. In 1999, he was named vice president and general manager, ADM Cocoa North America. In 2001, he was named president, ADM Cocoa; and in 2005, he was elected a vice president of ADM.
Craig Huss joined ADM in 1976 and has held various positions in grain elevator, processing and merchandising management. In 1999, he was named president, ADM Transportation; and in 2001, he was elected a vice president of the Company.
Kevin Moore joined ADM in 1990 and has held various manufacturing management positions for ADM. In 2006, he was named vice president and technical director for the BioProducts division.
Gary Towne joined ADM in 1997 and has served in a variety of management and merchandising positions. In 1999, he was named vice president, ADM Export Company; and in 2000, he was named vice president, Corn Processing.
Stu Funderburg has served in the law department since 1998, first in the role of attorney and then as corporate counsel.
Archer Daniels Midland Company (ADM) is the world leader in BioEnergy and has a premier position in the agricultural processing value chain. ADM is one of the world's largest processors of soybeans, corn, wheat and cocoa. ADM is a leading manufacturer of biodiesel, ethanol, soybean oil and meal, corn sweeteners, flour and other value-added food and feed ingredients. Headquartered in Decatur, Illinois, ADM has over 27,000 employees, more than 240 processing plants and net sales for the fiscal year ended June 30, 2007 of $44 billion. Additional information can be found on ADM's Web site at http://www.admworld.com.
|SOURCE Archer Daniels Midland Company|
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