ADM Announces Management Appointments
11.08.2011 | Business Wire
Organizational changes will drive operational excellence,
accelerate growth and sustain risk management performance
Archer Daniels Midland Company (NYSE: ADM) today announced the
appointment of Craig Huss to chief risk officer; Joe Taets to senior
vice president and president, Agricultural Services; and Domingo Lastra
to vice president, Business Growth. All three individuals will report to
ADM Chief Operating Officer Juan R. Luciano, and their appointments are
effective immediately.
'ADM has an unrivaled business model and an exceptionally talented team
with a strong commitment to delivering results,? said Luciano. 'Our
fiscal year 2012 business plan outlines four focus areas: driving
operational excellence, sustaining our risk management success,
accelerating our international growth and expanding our value-added
business. These appointments will strengthen our organizational
structure and ensure that we are properly aligned to achieve these
results. We have an exciting opportunity to grow our company, and I
believe we have the right priorities and people to deliver returns for
our shareholders.?
Huss will manage ADM′s aggregate commodity risk as he defines and
oversees the company′s risk management strategy. He will also lead
companywide productivity and cost-management efforts, and chair ADM′s
risk management committee, which consists of Luciano, ADM Vice Chairman
John Rice, the company′s business unit presidents and key merchandisers.
Since joining ADM in 1976, Huss has held various management positions in
origination, merchandising and transportation. Most recently, he was
president, Agricultural Services.
Taets will lead the company′s Agricultural Services business unit, with
responsibility for commercial activities and operations. He also joins
the company′s Strategic Planning Committee. Most recently, Taets was
president of ADM′s grain group, with responsibility for the company′s
domestic and export grain businesses, grain merchandising operations,
destination marketing business and ocean freight and vessel operations.
He joined ADM in 1988.
Lastra will pursue profitable growth as he focuses on expanding ADM′s
acquisition pipeline to drive earnings growth, enhancing marketing
capabilities to drive value-added business growth, and managing the
company′s portfolio to deliver shareholder returns. He will also be
involved in enhancing ADM′s project evaluation and capital allocation
processes. Domingo joined ADM in 1994 and was previously president, ADM
South America, based in São Paulo, Brazil. He will relocate to the
company′s headquarters in Decatur, Ill.
About ADM
Every day, the 30,000 people of Archer Daniels Midland Company (NYSE:
ADM) turn crops into renewable products that meet the demands of a
growing world. At more than 265 processing plants, we convert corn,
oilseeds, wheat and cocoa into products for food, animal feed, chemical
and energy uses. We operate the world′s premier crop origination and
transportation network, connecting crops and markets in more than 75
countries. Our global headquarters is in Decatur, Illinois, and our net
sales for the fiscal year ended June 30, 2011, were $81 billion. For
more information about our company and our products, visit www.adm.com.
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