Archer Daniels Midland (ADM) Vice Chair John Rice to Retire; Appointments Made
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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.
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.
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.
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.
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.
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.
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.
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