ADM (NYSE: ADM) has appointed Monish Patolawala as the new Executive Vice President and Chief Financial Officer, effective August 1, 2024, succeeding Ismael Roig. Patolawala brings over 25 years of experience, most recently serving as the President and CFO of 3M Company. In his new role, he will oversee global finance and accounting, global business services, global technology, and enterprise strategy.
Juan Luciano, the Chair of the Board and CEO, expressed excitement about Patolawala's appointment, emphasizing his extensive experience and impressive track record leading global finance and technology organizations. Patolawala himself expressed his honor in joining ADM and his passion for the company's purpose of "unlocking the power of nature to enrich the quality of life."
Monish Patolawala's predecessor, Ismael Roig, had been serving as ADM's interim CFO since January 2024 and will continue to contribute to the company as President of EMEA and President of Animal Nutrition.
Prior to joining ADM, Patolawala served in various finance roles at GE, including as CFO of $20 billion GE Healthcare from 2015 to 2020 and head of operational transformation for all of GE from 2019 to 2020. He also currently serves on the board of directors of biotechnology leader Biogen Inc.
This transition in leadership comes at a significant point in ADM's trajectory, and the company is expected to benefit from Patolawala's expertise as it continues to focus on productivity, innovation, and delivering with excellence. As a result of these announcements, the company's shares have moved 0.8% on the market, and are now trading at a price of $63.62. For the full picture, make sure to review Archer-Daniels-Midland's 8-K report.
