ADM Announces Retirements, Organizational Changes

06.03.2012  |  Business Wire

Archer Daniels Midland Company (NYSE: ADM) today announces the planned
retirement of two executives as well as the reorganization of some of
its business units.

Rice and Smith to Retire

Following a 36-year career at ADM, John Rice, vice chairman, has elected
to retire. Prior to becoming vice chairman in 2010, Rice led ADM′s risk
management efforts, and served as head of global origination,
merchandising, processing and marketing across ADM′s major business
lines.

'John has been an integral part of ADM′s growth,? said chairman and CEO
Patricia Woertz. 'He is acknowledged throughout our company and our
industry as a leading expert in agricultural merchandising, and we are
extremely grateful for the leadership and focus on results he has
provided.?

David Smith, executive vice president, secretary and general counsel,
has announced his intention to retire later this year, after 31 years
with the company. The company has begun the search for a new general
counsel.

'David has been a devoted leader and an exceptional counselor to our
company. He has played a key role in building ADM into the great company
it is today,? Woertz said. 'John and David each have the deep gratitude
and profound respect of our colleagues for their decades of service and
leadership.?

Grimestad to Key Strategy Role; Wisener Joins Investor Relations

To further strengthen the link between ADM′s strategic planning and its
shareholder value creation, Dwight Grimestad will assume a new role of
vice president, Corporate Strategy, reporting to Woertz.

Joining ADM as vice president, Investor Relations, is Ruth Ann Wisener
who previously held positions of senior director, Food Services Sales,
and vice president, Investor Relations for Tyson Foods. Wisener will
report to chief financial officer Ray Young.

'Dwight′s deep insight into our business and his keen focus on
shareholder value will strengthen the development and execution of ADM′s
corporate strategy,? said Woertz. 'We welcome Ruth Ann to our team. We
will benefit from her knowledge of our sector, her strong relationships
among our investment community and her experience leading investor
communications.?

Milling Business under Agricultural Services; Cocoa Business under
Oilseeds

As part of its continued effort to streamline the organization and
restructure work to drive greater efficiencies and effectiveness, the
company is consolidating responsibility for smaller business operations
into larger business units. Effective immediately, management of ADM′s
cocoa processing business will become part of the company′s Oilseeds
business unit; and responsibility for ADM′s wheat milling business will
become part of the company′s Agricultural Services business unit.
Previously, cocoa processing and wheat milling had been part of ADM′s
reporting segment called Other.

Starting with ADM′s fiscal year 2012 fourth quarter, the financial
results from cocoa will be reported as part of the Oilseeds segment, and
wheat milling will be reported as part of the Agricultural Services
segment. The Other reporting segment will remain and will include the
results of businesses including ADM Investor Services as well as ADM′s
captive insurance operation.

About Rice

John Rice joined ADM in 1976 as a tax accountant. From 1978 to 1993, he
held positions in merchandising and merchandising management. In 1993,
he was elected a vice president of the company, and subsequently served
as president, North American Oilseeds and Food Oils; and senior vice
president, Global Corn Processing, BioProducts and Food. In 2005, Rice
was elected executive vice president, Global Marketing and Risk
Management; and in 2007, he was named executive vice president,
Commercial and Production. In this role, he had responsibility for
global origination, merchandising, processing and marketing across ADM′s
major business lines. In 2010, Rice was named vice chairman, Office of
the Chairman, a newly created role designed to apply his expertise and
mastery of ADM′s business to an expanded set of operational and
strategic challenges including extracting value from existing assets and
driving operational excellence. ?Rice graduated with a bachelor′s degree
from the University of St. Thomas in St. Paul, Minn., and served on the
board of directors of Wilmar International Limited and the supervisory
board of Alfred C. Toepfer International.

About Smith

David Smith joined the ADM Law department in 1981, and was appointed
assistant secretary in 1988. He was appointed assistant general counsel
in 1995 and was named vice president, secretary and general counsel in
1997. In 2003, Smith was named executive vice president, secretary and
general counsel. In addition to overseeing all worldwide legal affairs
for the company, Smith also had responsibility for various
administrative functions including Corporate Security and Services,
Internal Audit, Aviation and the Office of Compliance and Ethics. Smith
received a bachelor′s degree in business from Western Illinois
University and a Juris Doctor from the John Marshall Law School. He is a
member of the Illinois State Bar Association.

About Grimestad

Dwight Grimestad joined ADM in 2000 as vice president, Investor
Relations. During his tenure with the company, Grimestad has
strengthened ADM′s relationships with the financial community,
increasing its understanding of ADM′s business model, strategies for
growth and earnings potential. Prior to joining ADM, he developed
investor relations programs for Rhodia, Rhone-Poulenc and Nalco
Chemical. Grimestad received a Bachelor of Science degree in chemical
engineering from Northwestern University and a Master of Business
Administration degree from Harvard University.

About Wisener

Ruth Ann Wisener joins ADM from Tyson Foods where she served as vice
president, Investor Relations and assistant secretary for the company.
In 2011, she was recognized by Institutional Investor magazine as one of
the top investor relations professionals in the food sector. She also
has experience in litigation at Tyson Foods and as a private practice
attorney in the state of Arkansas. Wisener received a Bachelor of Arts
degree in political science from Hendrix College and a Juris Doctor
degree from the University of Arkansas School of Law.

About ADM

For more than a century, the people of Archer Daniels Midland Company
(NYSE: ADM) have transformed crops into products that serve vital needs.
Today, 30,000 ADM employees around the globe convert oilseeds, corn,
wheat and cocoa into products for food, animal feed, industrial and
energy uses. With more than 265 processing plants, 400 crop procurement
facilities, and the world′s premier crop transportation network, ADM
helps connect the harvest to the home in more than 160 countries. For
more information about ADM and its products, visit www.adm.com.