Archer-Daniels-Midland Co. (ADM:US) Chief Operating Officer Juan Luciano took on the additional role of president, a title previously held by the current chairman and chief executive officer of the world’s largest corn processor.
Luciano, 52, will continue to report to Chairman and CEO Patricia Woertz, the Decatur, Illinois-based company said in a statement today.
Luciano has played an important role in efforts by Woertz, 60, to transform ADM from a conglomerate into a growing and focused agribusiness, said Farha Aslam, a New York-based analyst for Stephens Inc. Luciano was hired by ADM in 2011 after 25 years at Dow Chemical Co., where his last role was president of its performance division.
“We view Juan’s appointment as president as part of ADM’s natural succession process and expect he will become CEO over time,” Aslam, who recommends holding ADM shares, said in a telephone interview today.
Jackie Anderson, an ADM spokeswoman, declined to comment on succession planning.
Luciano, who holds an industrial engineering degree from the Buenos Aires Institute of Technology, currently oversees the commercial and production activities of ADM’s corn, oilseeds, and agricultural services businesses. He’s also responsible for research, project management and risk management.
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