World Grain - May 2006 - 11

newsreview
PEOPLE

Former Chevron executive Patricia Woertz named ADM President/CEO
DECATUR, ILLINOIS,
U.S. - Archer Daniels Midland Company
(ADM) on April 28
announced that Patricia A. Woertz has been
selected as president,
chief executive officer
Woertz
(CEO) and member of
the board of directors, succeeding G. Allen Andreas, who remains as chairman of
the board.
Prior to this appointment, Woertz was
executive vice-president of the Chevron
Corporation, in charge of the oil company's "downstream" operations, including
refining, marketing, lubricant, supply and
trading businesses in 180 countries.
Chevron is one of the world's leading
energy companies, and Woertz was one of
the highest-ranking executives in the energy industry.

Polson steps down as
AWB's chief executive
SYDNEY, AUSTRALIA - The acting
chief executive of AWB, a wheat export
firm under investigation for allegedly paying
huge bribes to Saddam
Hussein's former regime in Iraq, resigned on
April 20.
AWB, formerly the
Australian Wheat Board, announced Peter
Polson would resign as acting chief executive officer (CEO) after only three months in
the job.
"Mr. Polson has relinquished the acting
CEO role to concentrate on his other business
interests," the company said in a brief statement to the Australian Stock Exchange.
Polson took the job in February after former AWB boss Andrew Lindberg resigned
as a government-commissioned inquiry investigated allegations the company breached
UN sanctions by paying kickbacks to Baghdad worth U.S.$220 million between 1996
to 2003. Polson will remain a director on
the AWB board.
Polson's departure is the latest in an exodus
of senior AWB executives since a UN report
released last October accused the company of
paying bribes to Saddam's regime.

"Pat Woertz is a proven executive with
an exceptional blend of strategic, analytic,
business and leadership skills," said Andreas. "Her selection was endorsed unanimously by our board of directors, and we
are confident that she is the ideal person to
sustain ADM's strong performance and lead

the company into the next chapter of its
history."
Woertz becomes only the eighth CEO
in the 104-year history of ADM. Fortune
magazine has named Woertz one of the
top 10 most powerful women in business
every year since 2000.

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World Grain - May 2006

Table of Contents for the Digital Edition of World Grain - May 2006

Contents
World Grain - May 2006 - 1
World Grain - May 2006 - 2
World Grain - May 2006 - 3
World Grain - May 2006 - Contents
World Grain - May 2006 - 5
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