ADM ANNOUNCES MANAGEMENT CHANGES
Aug. 22, 2013
Source: Archer Daniels Midland news release
Archer Daniels Midland Company (NYSE: ADM) today announced management appointments.
"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 industries.
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.