CHICAGO, ILLINOIS, US — Archer Daniels Midland Co. (ADM) has announced that Ray G. Young, chief financial officer, will assume the additional role of vice chairman, in which he will provide strategic counsel on major initiatives critical to ADM’s future success. Young plans to transition from his role as CFO once his successor is identified. 

ADM will begin a search for the next CFO, including internal and external candidates with the assistance of a leading independent search firm. 

“On behalf of everyone at ADM, I would like to thank Ray for his service and dedication as CFO and for the thoughtful approach to the succession process,” said Juan Luciano, chairman and chief executive officer of ADM. “Ray has significantly contributed to ADM’s transformation into a global leader in human and animal nutrition and played a key role in helping drive strong financial performance and providing financial flexibility to support ADM’s growth agenda. We are fortunate that we will continue to benefit from Ray’s depth of knowledge and operational expertise as vice chairman as we deliver on our strategic growth ambitions.” 

Young added, “I am incredibly proud of the truly world-class financial organization we have built here at ADM over the last decade and am committed to working to ensure a smooth transition. In my new role as vice chairman, I look forward to continuing to work closely with Juan and the entire leadership team as we continue to execute on our sustainable growth strategy and build on our momentum.”