ADM Announces New CEO

Nov 6, 2014

The Illinois-based Archer-Daniels-Midland Company has a new CEO.

Juan Luciano will replace Patricia Woertz, who will remain chairman of the world's largest corn processor. Luciano will assume the new role in January.

Woertz is scheduled to retire May 2016.

An Illinois lawmaker is questioning why legislation addressing the future of major corporations has to come after a solution to the $100-billion pension shortfall. Governor Quinn called for a ‘moratorium’ on tax credits for any company until the issue is solved.  Senator Andy Manar, D-Bunker Hill, says there’s no reason they can’t be done simultaneously.