November 10, 2014
ADM names Luciano next CEO
Feed ingredient provider Archer Daniels Midland Company (ADM) has named Juan R. Luciano as its next chief executive officer. His term starts on Jan. 1, 2015.
Luciano currently serves as president and chief operating officer responsible for leading and running the company''s global operations.
He will succeed Patricia Woertz, who will continue as ADM''s chairman of the board until her retirement in May 2016.
"When I joined ADM in 2006, one of the areas the board asked me to focus on was leadership development and succession planning, with the goal of ensuring an eventual seamless and successful transition to the next CEO," Woertz said. "As I look ahead to fulfilling a decade of service to the company, the time feels right to begin that succession. ADM''s future is so bright. We have improved the company''s returns and crafted a strategic plan to achieve further improvements. We have worked hard to build the company''s earnings power and now- with good global demand, large global harvests and the expansion of our higher-margin business with the acquisition of WILD Flavors- we are well positioned for greater success.
"The board and I are confident that Juan- supported by ADM''s experienced and dedicated team- is absolutely the right leader to continue ADM''s success," Woertz said. "He is exceptionally smart and capable, with global perspective and a proven track record of delivering results. I look forward to supporting him in his new role and working to ensure a smooth and seamless transition."
Luciano will be the ninth chief executive in ADM''s 112-year history. He joined ADM in 2011 as executive vice-president and chief operating officer, and was named president in February 2014. As president and chief operating officer, Luciano oversees the commercial and production activities of ADM''s Corn, Oilseeds, and Agricultural Services businesses, as well as its research, project management, procurement and risk management functions.
He also oversees the company''s operational excellence initiatives, which seek to improve productivity and efficiency companywide. He has led the company''s efforts to improve its capital, cost and cash positions.
Previously, Luciano was with The Dow Chemical Company, where he last served as executive vice-president and president of the Performance division.