Chicago / IL. (adm) Archer Daniels Midland Company (ADM) 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 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 01, 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.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Cloetta AB: announces Q2-2024 interim report
- Axfood AB: Reports Q2-2024 Financial Results
- Chef Robotics: Launches AI-Powered Food Robot
- Conagra Brands: Reports Fourth Quarter 2024 Results
- Limerston Capital sells Village Bakery to Groupe Menissez
- GrubMarket: Buys Major Foodservice Company in Texas
- Lantmännen acquires Entrack AB
- DPC Dash: Concludes H1-2024 with Sustained Expansion
- Norway: Orkla Food Ingredients acquires FDE
- Fondo Italiano d’Investimento co-invests in Casa della Piada
- Greggs: invests in a new frozen manufacturing and logistics site
- Bundeskartellamt imposes fine against «Fritz!» manufacturer AVM
- Yum China: Celebrates Opening of its 200th KCoffee Store
- Beijing intends to roll out 5’400 food production robots
- K-Citymarket: sees significant sales growth in Finland
- DPC Dash: reaches 900-store milestone in China
- Coffee Holding: Terminates Merger with Delta Corp Holdings
- Perkins Restaurant + Bakery: introduces new brand identity
- Engelmans Bakery: acquires St. Armands Baking Company
- National DCP: Breaks Ground on New Distribution Center