ADM Adopts New Corporate Structure
The reorganization will not only streamline operations for enhanced performance, it will also provide development opportunities for managers throughout the Company. About 30 individuals will have new reporting relationships.
23/08/07 Archer Daniels Midland Company chairman, chief executive officer and president, Patricia Woertz has announced an organizational restructure of the Company, designed to enhance ADM’s operating efficiency and provide clearer lines of responsibility for long-term success. The reorganization creates a single operations group, responsible for the Company’s origination, merchandising, processing and marketing functions.
“The reorganization represents the next step in our process to position ADM for continued success. We have defined our longer-term strategy and areas of focus; now we are aligning our organization and leadership to execute our business plans,” said Woertz.
Effective from now:
• John Rice, executive vice president, will lead the new Commercial & Production division, with responsibility for global origination, merchandising, processing and marketing across ADM’s major business lines.
• David Smith, executive vice president, secretary and general counsel, will take on additional responsibility for Natural Health and Nutrition, Aviation and Internal Audit.
• Steve Mills, senior vice president, Strategic Planning, will assume additional responsibility for Specialty Food Ingredients, ADM Investor Services and Hickory Point Bank.
In addition, Projects and Engineering will report jointly to Michael Pacheco, vice president and chief technology officer, and John Rice. Marketing communications will report to Victoria Podesta, vice president, Corporate Communications. Bill Camp, executive vice president, will assume responsibility for Asia Strategy. And Lew Batchelder, senior vice president, will be relocating to Hamburg, Germany, as a member of the management board of Alfred C. Toepfer International G.m.b.H., a global commodity trading firm majority-owned by ADM.
The reorganization will not only streamline operations for enhanced performance, it will also provide development opportunities for managers throughout the Company. “Installing a reporting structure that supports our business strategy is a vitally important move,” said Woertz. “Equally important is the creation of an organization that provides development and growth opportunities for our future leaders. This will help ADM retain top talent and ensure our leaders are well prepared for the many, diverse challenges and opportunities our future will present.”
About 30 individuals will have new reporting relationships or increased responsibilities, including the following promotions.
