- Expresses appreciation to predecessor Woertz for legacy of outstanding service
CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) today announced that CEO and
President Juan R. Luciano has been named chairman of the company’s board
of directors, effective Jan. 1, 2016.
Luciano succeeds Patricia Woertz, who has served as chairman since 2007,
and who was Luciano’s predecessor in the CEO role. She retired from that
position on Dec. 31, 2014.
In light of the seamless leadership transition Woertz and Luciano
executed late last year, and their continued collaboration in recent
months, both they and the rest of the board felt the time was right to
transition the chairman’s role. Woertz will continue to serve as an
advisor to both the board and the chairman, and will retire from the
board.
“The Board of Directors is extremely grateful for Pat’s legacy of
service to ADM,” lead independent director Don Felsinger said. “Her
commitment to excellence and integrity served ADM exceptionally well
during her tenure, and we are a much stronger company for her leadership
and dedication.
“Since becoming CEO, Juan has continued to advance ADM’s strategy,
driving operational excellence and building the organization’s internal
leadership capacity,” Felsinger continued. “The board feels that Juan’s
command of the business, his commitment to driving value and his
insistence on continued sound, responsible corporate governance make him
the right choice to serve as chairman in this new era for the company.”
Said Luciano: “I am honored by the Board’s decision and grateful for
their vote of confidence. I want to express my deep appreciation to Pat
for her encouragement, guidance and friendship throughout this period of
transition. I look forward to continuing to work with her in the months
to come, and wish her the greatest happiness in her retirement.”
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 more than
33,000 employees serving customers in more than 140 countries. With a
global value chain that includes more than 460 crop procurement
locations, 300 ingredient manufacturing facilities, 40 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.

Archer Daniels Midland Company
Media Relations
Jackie Anderson
media@adm.com
312-634-8484