Archer-Daniels-Midland Company ADM introduced a host of management changes in its Corn business segment in an attempt to enhance productivity.
Firstly, the company named Craig Willis as president of the segment’s Ethanol business, prior to which he was vice president of the latter since 2011. Before becoming part of the Ethanol group in 2007, Willis served the company as commercial manager of three oilseeds crush plants, in addition to managing certain assets in ADM’s Agricultural Services business segment.
Next, management announced Kris Lutt as president of Sweeteners and Starches. Prior to this, he was president of ADM’s subsidiary – Golden Peanut and Tree Nuts. Also, in the past, Lutt has worked as president of ADM’s Milling business (part of the Agricultural Services segment) and as vice president of its Corn Processing segment.
Lutt’s strategy of achieving growth via acquisitions and Willis’ focus on innovation are likely to enhance the value of the Corn Processing segment.
The company made another alteration to Sweeteners and Starches with the appointment of Andy Moore as vice president. Moore, who is known for his excellent marketing and customer-relation strategies, worked as director of sales for the business prior to this shift in position. In his new role, he will continue to undertake customer-oriented efforts, apart from working with Lutt in his mission of taking the company forward on the growth trajectory.
Further, ADM declared Luther Pohlmann as vice president of Corn Operations. He will replace Randy Kampfe upon his retirement on Mar 31. With his strong history of managing some of ADM’s largest corn processing plants, he is likely to continue undertaking initiatives directed at curtailing costs and improving efficiency. Moreover, he has worked toward expanding the company’s international footprint.
Finally, the company, which competes with Tyson Foods, Inc. TSN, stated that Gary Towne will continue as president, Risk Management, for the Corn business unit. Towne’s expertise in analyzing market trends coupled with his experience in international management will help him make significant contributions which will benefit the company, going forward.
We expect the able leadership and entrepreneurial qualities of all aforementioned executives to drive ADM’s overall growth and boost shareholder returns in the future.
ADM currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same industry include Adecoagro S.A. AGRO and Amira Nature Foods Ltd. ANFI, each with a Zacks Rank #2 (Buy).
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