That focus, on creating shareholder value, is steadfastly shared by me and by our leadership team. We are not satisfied with the status quo. We are taking—and we will take—actions to improve shareholder return by investing in good projects and by repurchasing shares as valuation dictates and our balance sheet allows.
As I write this letter, the global economic outlook is once again uncertain; markets are skittish and consumers are wary in response. We at ADM are determined. The long-term trends that support our business—growing population and rising prosperity in emerging markets—remain. And, even in the short term, regardless of what nature, the global economy or the commodities marketplace holds in store, ADM has the acumen and assets to thrive. To operate with excellence. To create shareholder value. To serve vital needs…for many years to come.
Patricia A. Woertz
Chairman, CEO and President