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ADM Announces Management Appointments

Stocks in this article: ADM

Archer Daniels Midland Company (NYSE: ADM) today announced management appointments.

“Consistent with our commitment to improve returns, we are assigning leaders to build productivity and earnings power in key areas of opportunity,” said Juan Luciano, ADM executive vice president and chief operating officer.

Joseph Taets, senior vice president and president of the Agricultural Services business unit, will take on additional responsibility for strategy and growth activity across ADM’s business lines in Europe, Africa and India. Taets will relocate to the company’s European headquarters in Rolle, Switzerland.

“With the pending acquisition of GrainCorp, and the recent growth of our crop origination and processing assets in Eastern Europe, embedding senior leadership in the region will assure we fully leverage the earnings power of our growing network,” said Luciano. “Joe is ideally suited for this position, with his current responsibilities for crop origination and transportation activity in more than 75 countries, combined with his previous experience managing ADM’s European oilseeds operations.”

Brent Fenton will move to a new role as president, ADM Animal Nutrition, based in Decatur. ADM Animal Nutrition will bring together ADM’s specialty feed business—which supplies the livestock and aquaculture industries with amino acid-based feed ingredients—with ADM Alliance Nutrition, Inc., a wholly owned subsidiary of ADM and a leading producer of livestock feed ingredients.

“With Brent’s strong commercial orientation, and his experience managing our European oilseeds business, he is well suited to improve returns by developing higher-value, higher-margin product opportunities and delivering synergies in the combined specialty feed businesses,” Luciano said.

About Taets

Joe Taets is senior vice president and president of Archer Daniels Midland Company’s Agricultural Services business unit and also has responsibility for strategy and growth activity across business lines in Europe, Africa and India. He is an officer of the corporation, and a member of the company’s Global Operating Committee.

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