CHICAGO, ILLINOIS, US — ADM has named Monish Patolawala as executive vice president and chief financial officer, effective Aug. 1, succeeding Ismael Roig, who has been interim CFO since January.

Patolawala will be responsible for overseeing global finance and accounting, global business services, global technology and enterprise strategy in his role at ADM, which was announced July 10. He has more than 25 years of experience overseeing global finance and technology teams across leading industrial and healthcare companies, most recently at 3M, a multinational company operating in the fields of industry, worker safety, healthcare, and consumer goods.

“We are thrilled to have an executive of Monish’s caliber joining ADM as we focus our enterprise on productivity, innovation and delivering with excellence,” said Juan Luciano, chairman of the board and chief executive officer at ADM. “Monish has extensive experience and an impressive track record leading global, sophisticated finance and technology organizations and delivering strong results. With more than 25 years overseeing innovation- and sustainability-focused teams across leading industrial and healthcare companies, we are confident that Monish is a strong fit for ADM’s continually evolving organization. Today’s announcement is the culmination of the board’s thorough and thoughtful process to identify a proven leader to oversee our finance team as we execute with excellence across our strategic and operational priorities.”

Patolawala most recently served as president and CFO of 3M, where he led finance, country prioritization and country governance, information technology, enterprise strategy and global service centers. Prior to joining 3M, Patolawala spent more than two decades at technology company GE in various finance roles, including as CFO of $20 billion GE Healthcare from 2015-20 and also as head of operational transformation for all of GE from 2019-20. Patolawala also currently serves on the board of directors of biotechnology leader Biogen Inc.

“It is an honor to join ADM as CFO at an important point in the company’s trajectory,” Patolawala said. “As a child growing up in India, I witnessed severe poverty and hunger firsthand, and that’s what makes me so passionate about the important work that ADM is doing to feed the world through its purpose of unlocking the power of nature to enrich the quality of life. As a member of the executive team, I look forward to drawing upon my experience to advance ADM’s operational excellence and discipline, as we deliver for our stakeholders and drive shareholder value.”

Roig was named interim CFO in January after Vikram Luthar was placed on administrative leave in January following a Securities and Exchange Commission “voluntary” request for documents. In April, Luthar reached an agreement with ADM to resign from the company, effective Sept. 30, unless an earlier date was mutually agreed upon.

In March, ADM identified and corrected certain intersegment sales that were not recorded at amounts approximating market value as part of an ongoing investigation of its accounting practices.

The company said it made corrections in certain intersegment sales that occurred between the Nutrition reporting segment and the Ag Services and Oilseeds and Carbohydrate Solutions reporting segments.