Directors Elected at ADM Annual Meeting, Cash Dividend Declared
CHICAGO--(BUSINESS WIRE)-- Archer Daniels Midland Company (NYSE: ADM) announced today at its 84th Annual Shareholders’ Meeting that the eight incumbent directors were re-elected to its Board. The directors re-elected are: Alan L. Boeckmann, Mollie Hale Carter, Antonio Maciel Neto, Patrick J. Moore, M. Brian Mulroney, Thomas F. O’Neill, Kelvin R. Westbrook and Patricia A. Woertz.
Roger S. Joslin and O. Glenn Webb did not stand for re-election pursuant to the Company’s corporate governance guidelines.
Dr. Victoria Haynes Elected to Board
In addition, Dr. Victoria Haynes was elected a director, effective today.
Dr. Haynes is chief executive officer and president of RTI International, one of the world’s leading research institutes dedicated to improving the human condition by turning knowledge into practice. RTI offers innovative research and technical solutions to governments and businesses worldwide in the areas of health and pharmaceuticals, education and training, surveys and statistics, advanced technology, democratic governance, economic and social development, energy, and the environment.
“With experience managing organizations focused on innovation and technology, Victoria brings insight that will make her a valuable contributor to the ADM Board as the Company expands its leadership position in agricultural processing and BioEnergy,” said Chairman Patricia Woertz.
Dr. Haynes has expertise in strategic business alignment and management of technology resources, the identification, evaluation and commercialization of emerging technologies for significant new business opportunities, and the development of science and technology in multidisciplinary organizations directed toward complex problems.
Dr. Haynes received a doctorate degree in physical/organic chemistry and a master’s degree in college teaching from Boston University, and a bachelor’s degree in chemistry from the University of California, Berkeley. She is a member of the Board of Directors of Nucor Corporation, PPG Industries and Ziptronix. She also serves on advisory boards and committees for a number of universities and the federal government.
Cash Dividend Declared
The Board of Directors of ADM also declared a cash dividend of 11.5 cents per share on the Company’s stock payable December 6, 2007, to Shareholders of record November 23, 2007. This is ADM’s 304th consecutive quarterly payment, a record of 76 years of uninterrupted dividends. As of September 30, 2007, there were 642,708,945 shares of ADM stock outstanding.
Archer Daniels Midland Company (ADM) is the world leader in BioEnergy and has a premier position in the agricultural processing value chain. ADM is one of the world’s largest processors of soybeans, corn, wheat and cocoa. ADM is a leading manufacturer of biodiesel, ethanol, soybean oil and meal, corn sweeteners, flour and other value-added food and feed ingredients. Headquartered in Decatur, Illinois, ADM has over 27,000 employees, more than 240 processing plants and net sales for the fiscal year ended June 30, 2007 of $44 billion. Additional information can be found on ADM’s Web site at http://www.adm.com.
ADM Media Relations