DECATUR, ILL. — Several personnel changes were recently announced at Archer Daniels Midland Co., including management appointments, the planned retirement of two executives as well as the reorganization of some of the company’s business units.
Mark Kolkhorst has been named president of ADM Milling. Mr. Kolkhorst also will be responsible for ADM Alliance Nutrition, replacing Terry Myers, who is retiring as president of ADM Alliance Nutrition after 42 years of service.
Mr. Kolkhorst joined ADM in 1986. He most recently was vice-president and president, Milling and Cocoa. Prior to that, he was president of ADM Milling, where he was responsible for all aspects of the company’s flour milling businesses in the United States, Canada, the Caribbean and the United Kingdom. Previously, he was president of Specialty Feed Ingredients and served in various management positions in grain merchandising.
Kris Lutt has been named president of Golden Peanut Co., which is the largest U.S. handler, processor and exporter of peanuts, peanut oil and peanut-derived ingredients. Golden Peanut Company is also the leading peanut sheller and leading peanut oil refiner in the United States. Over the next months, Mr. Lutt will work closely with Jimmy Dorsett, chief executive officer of Golden Peanut, who will be retiring next year after 35 years with the company.
Mr. Lutt joined ADM in 2002 with the acquisition of Minnesota Corn Processors. Prior to his current appointment, he was president, Milling. Before that, he was adviser to the Office of the Chairman. Within ADM’s Corn business unit, he was general manager, Specialty Feed Ingredients; and vice-president, Corn Processing.
Scott Walker has been named president, ADM Cocoa. Mr. Walker joined ADM in 1993 and previously was vice-president and managing director, ADM Cocoa International, where he oversaw ADM’s cocoa business in Europe, Asia and Africa. Earlier, he worked as a merchandiser at numerous locations in the Oilseed Processing business before becoming a commodity merchandiser for ADM Cocoa in 1998. In 2002, he was named commercial director, ADM Cocoa South America, and in 2004, became commercial director, ADM Cocoa International.
Following a 36-year career at ADM, John Rice, vice-chairman, has elected to retire. Prior to becoming vice-chairman in 2010, Mr. Rice led ADM’s risk management efforts, and was head of global origination, merchandising, processing and marketing across ADM’s major business lines.
“John has been an integral part of ADM’s growth,” said Patricia Woertz, chairman and chief executive officer. “He is acknowledged throughout our company and our industry as a leading expert in agricultural merchandising, and we are extremely grateful for the leadership and focus on results he has provided.”
David Smith, executive vice-president, secretary and general counsel, has announced his intention to retire later this year, after 31 years with the company. The company has begun the search for a new general counsel.
“David has been a devoted leader and an exceptional counselor to our company,” Ms. Woertz said. “He has played a key role in building ADM into the great company it is today. John and David each have the deep gratitude and profound respect of our colleagues for their decades of service and leadership.”
To further strengthen the link between ADM’s strategic planning and its shareholder value creation, Dwight Grimestad will assume a new role of vice-president, corporate strategy, reporting to Ms. Woertz.
Joining ADM as vice-president, investor relations, is Ruth Ann Wisener, who previously held positions of senior director, food services sales, and vice-president, investor relations, for Tyson Foods. Ms. Wisener will report to chief financial officer Ray Young.
“Dwight’s deep insight into our business and his keen focus on shareholder value will strengthen the development and execution of ADM’s corporate strategy,” Ms. Woertz said. “We welcome Ruth Ann to our team. We will benefit from her knowledge of our sector, her strong relationships among our investment community and her experience leading investor communications.”
ADM also announced it is consolidating responsibility for smaller business operations into larger business units.
Effective immediately, management of ADM’s cocoa processing business will become part of the company’s Oilseeds business unit; and responsibility for ADM’s wheat milling business will become part of the company’s Agricultural Services business unit. Previously, cocoa processing and wheat milling had been part of ADM’s reporting segment called Other.
Starting with ADM’s fiscal year 2012 fourth quarter, the financial results from cocoa will be reported as part of the Oilseeds segment, and wheat milling will be reported as part of the Agricultural Services segment. The Other reporting segment will remain and will include the results of businesses such as ADM Investor Services as well as ADM’s captive insurance operation.