BOSTON, MASSACHUSETTS, US — “Prioritization of opportunities” is a challenge standing before Chicago-based ADM for the first time since the company’s current president and chief executive officer joined the company more than a decade ago.
“I think for the first time since I’ve been in ADM, we have this challenge in front of us of prioritization of opportunities,” said Juan R. Luciano, president and CEO of ADM, during a Sept. 7 presentation at the Barclays Consumer Staples Conference in Boston. “And the opportunities are significant.”
Luciano said the opportunities are being driven by three events, or social changes, that are affecting the company.
The first change is consumers’ desire to focus on nutrition as a way to improve health and well-being. Luciano said ADM has seen this change play out across plant-based proteins, probiotics, prebiotics and special beverages.
“To a certain degree, (it) is impacting every aspect of our company,” he said of consumers’ focus on nutrition.
A second change is a push from consumers and food companies to have grains that have been grown in a certain way. To address this change, Luciano said ADM is working with farmers that have the desire and the will to be held into better and more sustainable farming practices.
The third change involves decarbonization. Luciano said many industries are looking to honor their 2040 or 2050 net-zero pledges and promises, and in order to meet those goals they must have access to large quantities of low-carbon intensity feedstocks.
“So when we put together these three things, we have a portfolio of innovations that is unparalleled in our history,” he said. “So we feel very good about productivity and innovation.”