ADM elects directors, declares dividend

by World Grain staff
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DECATUR, ILLINOIS, U.S. — Archer Daniels Midland Company (ADM) announced on May 1 at its 91st Annual Stockholders’ Meeting the election of its board of directors, including new director Francisco Sanchez.

Sanchez is senior managing director at Pt Capital, a private equity firm focused on responsible investments in the Arctic. He is also the founder and chairman of the board of CNS Global Consulting, a firm focused on international trade and investment. Sanchez served as the undersecretary for international trade at the U.S. Department of Commerce from 2010-13.

“Francisco brings substantial experience in public policy, international trade and international investment to our Board,” said ADM Chairman and Chief Executive Officer Patricia Woertz. “His expertise will help ADM continue to grow our business outside the U.S.”

The board’s 11 incumbent directors were also re-elected. The directors re-elected are: Alan L. Boeckmann, Mollie Hale Carter, Terrell K. Crews, Pierre Dufour, Donald E. Felsinger, Antonio Maciel Neto, Patrick J. Moore, Thomas F. O’Neill, Daniel Shih, Kelvin R. Westbrook and Patricia A. Woertz.

In addition, ADM’s board of directors declared a cash dividend of 24¢ per share on the company’s common stock payable June 5, to stockholders of record May 15, 2014.

This is ADM’s 330th consecutive quarterly payment, a record of 82 years of uninterrupted dividends. As of March 31, there were 654,892,520 shares of ADM common stock outstanding.

At the meeting, Woertz also announced ADM’s adoption of a global statement on Respect for Human Rights — developed in consultation with the New Jersey-based Tri-State Coalition for Responsible Investment.

The statement outlines ADM’s commitment to fair labor standards, land-tenure rights, ethical recruitment and other fundamental protections and applies to the company and its suppliers. The statement is viewable at 

http://www.adm.com/en-US/company/Documents/HumanRights.pdf.
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