CHICAGO — Juan R. Luciano, president and chief executive officer of Archer Daniels Midland Co., has been elected chairman of the company’s board of directors, effective Jan. 1, 2016. He will succeed Patricia Woertz, who has served as chairman since 2007 and who was Mr. Luciano’s predecessor in the c.e.o. role. She retired from that position on Dec. 31, 2014, and will continue to serve as an advisor to both the board and the chairman.
“The board of directors is extremely grateful for Pat’s legacy of service to ADM,” said Don Felsinger, lead independent director. “Her commitment to excellence and integrity served ADM exceptionally well during her tenure, and we are a much stronger company for her leadership and dedication. Since becoming c.e.o., Juan has continued to advance ADM’s strategy, driving operational excellence and building the organization’s internal leadership capacity. The board feels that Juan’s command of the business, his commitment to driving value and his insistence on continued sound, responsible corporate governance make him the right choice to serve as chairman in this new era for the company.”