World Grain - June 2015 - 18

NEWSREVIEW

ADM makes management appointments in key areas
CHICAGO, ILLINOIS, U.S. - Archer Daniels Midland Co. (ADM)
announced on May 11 three management appointments to accelerate
value creation in key areas.
Gregory Morris has been named senior vice-president and president,
Global Oilseeds. Vince Macciocchi has been named senior vice-president and president, WILD Flavors and Specialty Ingredients. Mark
Bemis, senior vice-president and president, North
America, has been named to the additional role of
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ADM's Corn Processing business unit, has been
named a senior vice-president of the company.
The appointments are effective immediately.
Morris' scope of responsibility includes all
commercial activity, operations and production
for the company's Oilseeds Processing busiCuddy
ness unit. Previously, Morris led the launch of
the company's WILD Flavors and Specialty Ingredients (WFSI) business unit, which includes
ADM's specialty ingredients businesses, as well
as the company's WILD Flavors business, and
ADM's portfolio of dried fruits, seeds, legumes
and ancient grains.
Morris joined ADM in 1995 and has held several senior-level merchandising and management
positions since then. Prior to leading the launch
Morris
of WFSI, he served as ADM's president, North
American Oilseeds Processing.
"Greg has been with ADM for more than 20 years and has worked in
three of our four business units. He was a leader on our Oilseeds team
for over 17 years, serving as president of North American Oilseeds for
more than two years, and building our foods and wellness business before we asked him to lead the launch of our WILD Flavors and Specialty
Ingredients business unit," said ADM's President and Chief Executive

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with a passionate commitment to his team and an exceptional sense of
accountability for results. As he rejoins Global Oilseeds and works with
the team's strong regional leadership, I am looking forward to their delivering our ambitious scorecard of strategic actions."
Macciocchi has more than a quarter century of experience in the ingredients industry. He came to WILD as its North American chief opHUDWLQJ RI¿FHU LQ 3ULRU WR WKDW KH VSHQW PRUH WKDQ D GHFDGH DW
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Bemis was president of ADM's Corn Processing business unit. Before that, he served as president of ADM's Cocoa, Milling and Financial
Services businesses; earlier, he was vice-president and general manager
for ADM Cocoa North America. In addition, he has held various merchandising and management positions in the company's Agricultural
Services, Malt, Corn Processing, and Oilseeds Processing businesses
since joining ADM in 1983.
He became a vice-president of the company in 2005, and a senior
vice-president in 2010.
Cuddy served as president, Sweeteners and Starches, in ADM's Corn
Processing business unit. In that role, he was responsible for all commercial activities of the company's North American sweetener, starch,
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Cuddy joined ADM in 1998 and held a variety of merchandising and
management roles prior to leading the sweeteners and starches group, including president, Almidones Mexicanos, SA de CV (Almex), an ADM
joint venture based in Guadalajara, Mexico. Before that, Cuddy was
vice-president, ADM Corn Processing, managing the commercial activities of ADM's corn wet milling business, including sales, marketing
and distribution of corn-based sweeteners and sugar. From 2000 to 2004,
Cuddy served as North American sales manager, ADM BioProducts. He
began his career with the company as a senior commodity trader with
ADM Grain.

ADM earnings surge on oilseed crush margins
CHICAGO, ILLINOIS, U.S. - Strong oilseed crushing margins and
global demand for soybean meal pushed Archer Daniels Midland Co.'s
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with strong performances in each region. In Ag Services, our recently
created global trade desk (GTD) platform drove higher merchandised
volumes. Together, these performances helped deliver a good quarter
overall, even as lower industry ethanol margins limited earnings in
Corn, and the strong dollar limited U.S. grain exports."
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the quarter were the strongest ever, with record volumes in Europe and
North America and strong margins globally, driven by strong U.S. and
18

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in South America - from the enactment of increased blending stanGDUGVLQ%UD]LO²ZHUHRIIVHWE\ORZHUPDUJLQVLQ1RUWK$PHULFD
and weaker demand in Europe. Oilseeds results in Asia for the quarter improved from the year-ago period, primarily driven by stronger
Wilmar results.
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desk (GTD) merchandising platform saw increased volumes and
margins. In North America, volumes and margins improved, despite
a very active fourth quarter, the start of the South American harvest
and the impact of a strong dollar on U.S. export competitiveness.
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contributions from coproducts, reduced equity earnings from jointventures, and startup costs related to the Tianjin sweetener facility.
June 2015 / World Grain / www.World-Grain.com

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World Grain - June 2015

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