8-KLeadership ChangesExhibits & Filings

Archer-Daniels-Midland Co 8-K Report, Executive Changes (Nov 3, 2010)

Filed November 3, 2010For Securities:ADM

Summary

Archer-Daniels-Midland Company (ADM) announced significant executive leadership changes effective November and December 2010. The most notable appointment is Ray G. Young, formerly of General Motors, who will join ADM as Senior Vice President effective November 1, 2010, and assume the role of Senior Vice President and Chief Financial Officer on December 1, 2010. Mr. Young brings extensive financial and operational experience from his long tenure at General Motors. These changes also involve internal promotions and role realignments. Steven R. Mills will transition from his previous role to Senior Executive Vice President, Performance and Growth. John D. Rice has been promoted to Vice Chairman, Office of the Chairman. The company has also disclosed the restricted share grants awarded to Mr. Mills and Mr. Rice upon their respective transitions, as well as a restricted share grant to Mr. Young upon commencement of his employment, indicating a commitment to aligning executive compensation with long-term shareholder value.

Key Highlights

  • 1Appointment of Ray G. Young as Senior Vice President and incoming Chief Financial Officer (effective Dec 1, 2010), bringing substantial financial leadership experience from General Motors.
  • 2Internal restructuring of key leadership roles, including Steven R. Mills' move to Senior Executive Vice President, Performance and Growth.
  • 3Promotion of John D. Rice to Vice Chairman, Office of the Chairman.
  • 4Restricted share grants awarded to new CFO Ray G. Young upon joining ADM.
  • 5Significant restricted share grants awarded to Steven R. Mills and John D. Rice in connection with their role changes, signaling continued executive commitment.
  • 6No identified family relationships between Mr. Young and existing ADM directors or officers.

Frequently Asked Questions

Ray G. Young has been appointed as the incoming Senior Vice President and Chief Financial Officer, effective December 1, 2010. He was previously with General Motors, holding various senior financial and operational roles.

The company is appointing Ray G. Young as its new CFO, transitioning Steven R. Mills to a new role focused on Performance and Growth, and promoting John D. Rice to Vice Chairman. These changes are effective in November and December 2010.

ADM has granted restricted shares to the key executives involved in these changes. Ray G. Young received restricted shares upon commencing employment, while Steven R. Mills and John D. Rice received restricted shares in connection with their new roles, reflecting an incentive to align with shareholder value.

The filing states that Mr. Young does not have a written employment agreement. He will receive a base salary and is eligible to participate in the company's incentive plans for executive officers.