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ADM names Juan Luciano next CEO [Herald & Review, Decatur, Ill.](Herald & Review (Decatur, IL) Via Acquire Media NewsEdge) Nov. 06--CHICAGO -- Archer Daniels Midland Co. put its leader in place for when Patricia Woertz retires by naming Juan Luciano on Thursday as its next CEO. Luciano, who was named president in February, will add the CEO title effective Jan. 1. Luciano was also elected to the company's board of directors, effective immediately. He is responsible for leading and running ADM's global operations. Woertz will continue as ADM's chairman of the board but is expected to retire in May 2016. When she started with ADM 8 years ago, Woertz held all three titles. Woertz said Luciano is the right leader to keep ADM moving on the path of success she has put in place. "ADM's future is so bright," Woertz said. "We have improved the company's returns and crafted a strategic plan to achieve further improvements." With a string of recent acquisitions including a $3 billion deal to acquire European natural ingredients supplier Wild Flavors, Woertz said ADM is positioned for greater success. "My commitment is to build on that success by accelerating our pace of progress," Luciano said. "This is an exciting time, with tremendous opportunities, and all of us at ADM are committed to leveraging our core model to achieve new levels of value-creation." Luciano joined ADM in 2011 as executive vice president and chief operating officer. He was previously with the Dow Chemical Company, where he last served as executive vice president and president of the performance division. Since Luciano joined ADM, its lead independent director Don Felsinger has been pleased with his contributions. "His focus on delivering improvements in cost, cash and capital has resonated with investors, and his drive to ensure ADM reaches new levels of customer relevance and excellence ensures that ADM is positioned well for future success," Felsinger said. "We are confident he will be an outstanding chief executive." Felsinger said Woertz has made the company stronger and more disciplined during her tenure. For more on this story, see Friday's Herald & Review. [email protected]|(217) 421-7972 ___ (c)2014 the Herald & Review (Decatur, Ill.) Visit the Herald & Review (Decatur, Ill.) at www.herald-review.com Distributed by MCT Information Services |