ADM Fuses Oilseeds and Origination Units into New Business

American agribusiness Archer Daniels Midland (ADM) plans to debut a newly created unit, Ag Services & Oilseeds, that combines the firm’s oilseeds and origination businesses this July 1, the company announced in a release Wednesday.

“Bringing the unparalleled strength of our global origination, global trade and destination marketing businesses and our transportation network together with our leadership in oilseeds processing and value-added product mix is a natural evolution,” said ADM Chairman and Chief Executive Officer Juan Luciano, in a statement. “This helps us better integrate the supply and value chains to deliver significant simplification and efficiency to the day-to-day business.” 

Greg Morris, the former president of ADM’s Oilseeds business, is slated to lead Ag Services & Oilseeds when it launches. 

The president of ADM’s Origination unit, Stefano Rettore, plans to part ways with ADM for personal reasons, the agribusiness told The Financial Times. ADM’s creation of the new business is the second major organizational shift the company has undertaken in 15 months, the British news organization reported. Four new divisions – nutrition, origination, carbohydrate solutions, and oilseeds – were rolled out at the company in March 2018.

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