Organizational changes will drive operational excellence, accelerate growth and sustain risk management performance
DECATUR, Ill.--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) today announced the appointment of Craig Huss to chief risk officer; Joe Taets to senior vice president and president, Agricultural Services; and Domingo Lastra to vice president, Business Growth. All three individuals will report to ADM Chief Operating Officer Juan R. Luciano, and their appointments are effective immediately.
“ADM has an unrivaled business model and an exceptionally talented team with a strong commitment to delivering results,” said Luciano. “Our fiscal year 2012 business plan outlines four focus areas: driving operational excellence, sustaining our risk management success, accelerating our international growth and expanding our value-added business. These appointments will strengthen our organizational structure and ensure that we are properly aligned to achieve these results. We have an exciting opportunity to grow our company, and I believe we have the right priorities and people to deliver returns for our shareholders.”
Huss will manage ADM’s aggregate commodity risk as he defines and oversees the company’s risk management strategy. He will also lead companywide productivity and cost-management efforts, and chair ADM’s risk management committee, which consists of Luciano, ADM Vice Chairman John Rice, the company’s business unit presidents and key merchandisers. Since joining ADM in 1976, Huss has held various management positions in origination, merchandising and transportation. Most recently, he was president, Agricultural Services.
Taets will lead the company’s Agricultural Services business unit, with responsibility for commercial activities and operations. He also joins the company’s Strategic Planning Committee. Most recently, Taets was president of ADM’s grain group, with responsibility for the company’s domestic and export grain businesses, grain merchandising operations, destination marketing business and ocean freight and vessel operations. He joined ADM in 1988.
Lastra will pursue profitable growth as he focuses on expanding ADM’s acquisition pipeline to drive earnings growth, enhancing marketing capabilities to drive value-added business growth, and managing the company’s portfolio to deliver shareholder returns. He will also be involved in enhancing ADM’s project evaluation and capital allocation processes. Domingo joined ADM in 1994 and was previously president, ADM South America, based in São Paulo, Brazil. He will relocate to the company’s headquarters in Decatur, Ill.
Every day, the 30,000 people of Archer Daniels Midland Company (NYSE: ADM) turn crops into renewable products that meet the demands of a growing world. At more than 265 processing plants, we convert corn, oilseeds, wheat and cocoa into products for food, animal feed, chemical and energy uses. We operate the world’s premier crop origination and transportation network, connecting crops and markets in more than 75 countries. Our global headquarters is in Decatur, Illinois, and our net sales for the fiscal year ended June 30, 2011, were $81 billion. For more information about our company and our products, visit www.adm.com.
ADM Media Relations