ADM makes organizational changes
August 11, 2011
by Eric Schroeder
DECATUR, ILL. — Three individuals have been named to new positions at Archer Daniels Midland Co., reporting to Juan R. Luciano, chief operating officer.
Craig Huss has been named chief risk officer with responsibility for managing ADM’s aggregate commodity risk. He also will lead companywide productivity and cost-management efforts, and chair ADM’s risk management committee. Since joining ADM in 1976, Mr. Huss has held various management positions in origination, merchandising and transportation. Most recently, he was president of agricultural services.
Succeeding Mr. Huss as president of agricultural services is Joseph Taets, who also was named senior vice-president of ADM. Mr. 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, he 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.
Domingo Lastra has been named vice-president of business growth, where he will focus 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 also will be involved in enhancing ADM’s project evaluation and capital allocation processes. Mr. Lastra joined ADM in 1994 and was previously president of ADM South America, based in São Paulo, Brazil. He will relocate to the company’s headquarters in Decatur.
“ADM has an unrivaled business model and an exceptionally talented team with a strong commitment to delivering results,” Mr. Luciano said. “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.”