ADM CFO placed on administrative leave amid Nutrition segment accounting probe; appoints interim CFO

Archer-Daniels-Midland Co

CFO Vikram Luthar placed on administrative leave effective immediately pending investigation into Nutrition segment accounting practices and intersegment transactions.
SEC issued voluntary document request; ADM cooperating with outside counsel and Audit Committee investigation.
Ismael Roig appointed Interim CFO; previously President of EMEA and Animal Nutrition.
ADM expects 2023 adjusted EPS above $6.90; delays Q4/full year earnings release and 10-K filing from historical schedule.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Vikram Luthar

Chief Financial Officer

ADM · Archer-Daniels-Midland Co

Effective: 2024-01-19
Successor: Ismael Roig
Filed: January 22, 2024, 6:59 PM ET

The appointment follows the decision of the Board on January 19, 2024 to place Vikram Luthar, the Company’s Chief Financial Officer and Senior Vice President, on administrative leave, effective immediately.

Appointed (interim)

Ismael Roig

Interim Chief Financial Officer

ADM · Archer-Daniels-Midland Co

Filed: January 22, 2024, 6:59 PM ET

On January 21, 2024, Archer-Daniels-Midland Company (the “Company”) announced that the Board of Directors of the Company (the “Board”) has appointed Ismael Roig to serve as the Company’s Interim Chief Financial Officer.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Archer-Daniels-Midland Co reported the fiscal year ended December 31, 2023 results: EPS above $6.90 in adjusted earnings per share. Guidance reaffirmed.

Period: the fiscal year ended December 31, 2023
EPS: above $6.90 in adjusted earnings per share
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

ADM now expects to deliver above $6.90 in adjusted earnings per share for the fiscal year ended December 31, 2023, subject to completion of annual close processes and related internal controls.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Vikram Luthar departed as Chief Financial Officer at Archer-Daniels-Midland Co.

Action: placed on administrative leave
Role: Chief Financial Officer

Exact text from the filing

The appointment follows the decision of the Board on January 19, 2024 to place Vikram Luthar, the Company’s Chief Financial Officer and Senior Vice President, on administrative leave, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ismael Roig was appointed as Interim Chief Financial Officer at Archer-Daniels-Midland Co.

Action: appointed
Role: Interim Chief Financial Officer

Exact text from the filing

On January 21, 2024, Archer-Daniels-Midland Company (the “Company”) announced that the Board of Directors of the Company (the “Board”) has appointed Ismael Roig to serve as the Company’s Interim Chief Financial Officer.

View on SEC.gov

36 earnings releases filed in the last 30 days. Browse all earnings releases →

Archer-Daniels-Midland Co filing history →

Source: SEC EDGAR

accession 0001193125-24-011608

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