ADM Shuffles Structure of Business Units to Fuel Growth
March 19, 2018
American agribusiness Archer Daniels Midland (ADM) announced Monday that the structure of its business segments is being realigned along four new pillars – Carbohydrate Solutions, Nutrition, Oilseeds, and Origination – to better reflect the company’s array of products and services and the changing needs of its customers.
“The changes we are announcing today enhance and accelerate our efforts to deliver value-added, differentiated products and services to drive growth across our entire portolio,” ADM chairman and chief executive officer Juan Luciano said in a company press release issued Monday. “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.”
Along with the shuffle of the business segments, the agribusiness also announced leadership positions for each of the newly-created units. The company’s current head of corn processing, Chris Cuddy, was named to lead the Carbohydrate Solutions unit, which will include ADM’s corn and milling assets. Stefano Rettore, presently ADM’s chief risk officer, was appointed vice president and president of the Origination segment, encompassing the firm’s current Agricultural Services business save for milling.
The current head of the Oilseeds unit, Greg Morris, will remain at his current post. ADM’s head of Nutrition, Vince Macciocchi, will take on leadership of the firm’s Animal Nutrition and Bioactives businesses, in addition to the Wild Flavors & Specialty Ingredients (WFSI) unit.
ADM said the changes will be included in its financial results for the first quarter of 2018 that will be presented this May.
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