ADM Announces Management Appointments
DECATUR, Ill. -- August 21, 2013
Archer Daniels Midland Company (NYSE: ADM) today announced management
“Consistent with our commitment to improve returns, we are assigning leaders
to build productivity and earnings power in key areas of opportunity,” said
Juan Luciano, ADM executive vice president and chief operating officer.
Joseph Taets, senior vice president and president of the Agricultural Services
business unit, will take on additional responsibility for strategy and growth
activity across ADM’s business lines in Europe, Africa and India. Taets will
relocate to the company’s European headquarters in Rolle, Switzerland.
“With the pending acquisition of GrainCorp, and the recent growth of our crop
origination and processing assets in Eastern Europe, embedding senior
leadership in the region will assure we fully leverage the earnings power of
our growing network,” said Luciano. “Joe is ideally suited for this position,
with his current responsibilities for crop origination and transportation
activity in more than 75 countries, combined with his previous experience
managing ADM’s European oilseeds operations.”
Brent Fenton will move to a new role as president, ADM Animal Nutrition, based
in Decatur. ADM Animal Nutrition will bring together ADM’s specialty feed
business—which supplies the livestock and aquaculture industries with amino
acid-based feed ingredients—with ADM Alliance Nutrition, Inc., a wholly owned
subsidiary of ADM and a leading producer of livestock feed ingredients.
“With Brent’s strong commercial orientation, and his experience managing our
European oilseeds business, he is well suited to improve returns by developing
higher-value, higher-margin product opportunities and delivering synergies in
the combined specialty feed businesses,” Luciano said.
Joe Taets is senior vice president and president of Archer Daniels Midland
Company’s Agricultural Services business unit and also has responsibility for
strategy and growth activity across business lines in Europe, Africa and
India. He is an officer of the corporation, and a member of the company’s
Global Operating Committee.
As president of Agricultural Services, Taets is responsible for the commercial
activities and operations of the company’s agricultural origination and
transportation network—which spans more than 75 countries—as well as the
company’s wheat milling and rice businesses.
Previously, he was president of ADM’s grain group, with responsibility for the
company’s U.S. and export grain businesses, grain-merchandising operations,
destination-marketing business, and ocean freight and vessel operations.
Earlier, he was managing director of the company’s European Oilseeds
operations. He joined ADM in 1988.
Taets serves on the boards of the North American Export Grain Association,
Golden Peanut Company, ADM Grain River System Inc. and Kalama Export, an ADM
joint venture. He also represents ADM on boards in Argentina, the Dominican
Republic, Guatemala, Holland, Mexico, Panama and Switzerland.
He holds a bachelor’s degree from Iowa State University and an MBA from Drake
University in Des Moines, Iowa.
Brent Fenton is president, ADM Animal Nutrition, with responsibility for ADM’s
specialty and value-added feed business, serving the livestock and aquaculture
Previously, he served as president of European operations, where he was
responsible for setting strategy and coordinating growth activity across all
ADM business lines in the region as well as managing the company’s European
oilseeds business. He joined ADM in 1992.
Fenton received a bachelor’s degree in agriculture and agricultural economics
from the University of Saskatchewan in Saskatoon, Saskatchewan, Canada. He
sits on the board of ADM Hamburg AG and FEDIOL, the federation representing
the European vegetable oil and protein meal industry in Europe.
For more than a century, the people of Archer Daniels Midland Company (NYSE:
ADM) have transformed crops into products that serve vital needs. Today,
30,000 ADM employees around the globe convert oilseeds, corn, wheat and cocoa
into products for food, animal feed, industrial and energy uses. With more
than 265 processing plants, 460 crop procurement facilities, and the world’s
premier crop transportation network, ADM helps connect the harvest to the home
in more than 140 countries. For more information about ADM and its products,
Archer Daniels Midland Company
David Weintraub, 217-424-5413
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