CHICAGO — Archer Daniels Midland Co. is realigning its business segments into four units: Carbohydrate Solutions, Nutrition, Oilseeds and Origination. The new segments better reflect the company’s operating structure and will allow ADM to further highlight the differences in its product and service offerings, the Chicago-based company said when announcing the changes March 19.
ADM’s business segments previously were Agricultural Services, Corn Processing, Oilseeds Processing and Wild Flavors & Specialty Ingredients. The new business segments will be reflected in the financial results for the first quarter of 2018, which ADM will present May 1.
Carbohydrate Solutions will include corn and milling operations. Chris Cuddy, president of corn processing, will expand his role and head Carbohydrate Solutions.
Nutrition will include the Animal Nutrition and Bioactive businesses as well as Wild Flavors & Specialty Ingredients. Vince Macciocchi, president of W.F.S.I., will expand his role and head Nutrition.
“The changes we are announcing today enhance and accelerate our efforts to deliver value-added, differentiated products and services and drive growth across our entire portfolio,” — Juan Luciano, ADM
Origination will include the Agricultural Services Business, excluding milling. Stefano Rettore will become senior vice-president and president, Origination, while continuing as ADM’s chief risk officer.
The Oilseeds business unit will remain unchanged. Greg Morris will continue as president of the unit.
“The changes we are announcing today enhance and accelerate our efforts to deliver value-added, differentiated products and services and drive growth across our entire portfolio,” said Juan Luciano, chairman and chief executive officer of ADM. “We have made tremendous progress over the last several years in creating a more agile and efficient company, and these changes position us to build on that momentum as we work to further enhance the customer experience and provide even greater value to customers and shareholders.”
ADM reported two other personnel changes on March 19. Joe Taets will take over the newly created role of senior vice-president and president, Global Business Readiness. He will focus on delivering cost-savings, efficiency and business process initiatives within Ag Services. Kristy Folkwein will become senior vice-president and chief information officer. She will focus on ensuring the quality and integrity of ADM’s data companywide, provide leadership to the global shared services organization, and enable analytics that drive sound, well-informed business decisions.