US agricultural processor Archer Daniels Midland (ADM) has announced that Paul Mulhollem, president and chief operating officer, is to retire from the company, effective immediately.

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G. Allen Andreas, chairman of the board and chief executive officer of ADM, will temporarily assume the duties of president and COO.


The ADM board of directors announced plans to initiate a search for a new president to take on Mulhollem’s responsibilities and also to assume the position of chief executive officer as a successor for Andreas in his role as CEO.


“With the full approval and support of the board of directors, Andreas has, for a period of time, been developing a succession plan for executive leadership at the company,” said O.G. Webb, vice chairman of ADM’s board.  “This is a continuation of that process.”


Upon the selection of a new president and CEO, Andreas will be elected executive chairman of the board.

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