ADM CFO Departs; Interim CFO Appointed
Ticker: ADM · Form: 8-K · Filed: 2024-03-20T00:00:00.000Z
Sentiment: neutral
Topics: executive-departure, cfo, interim-appointment
Related Tickers: ADM
TL;DR
ADM CFO out, interim in. Search for permanent replacement underway.
AI Summary
Archer-Daniels-Midland Company (ADM) announced on March 18, 2024, the departure of its Chief Financial Officer, Vikram Lalgudi, effective March 18, 2024. The company also announced the appointment of Robert W. Usedom as interim CFO. ADM has initiated a search for a permanent CFO.
Why It Matters
The sudden departure of a CFO can raise concerns about the company's financial stability and future strategy, potentially impacting investor confidence.
Risk Assessment
Risk Level: medium — The departure of a CFO, especially without immediate permanent replacement, can signal underlying issues or create uncertainty for investors.
Key Players & Entities
- Archer-Daniels-Midland Company (company) — Registrant
- Vikram Lalgudi (person) — Departing Chief Financial Officer
- Robert W. Usedom (person) — Interim Chief Financial Officer
- March 18, 2024 (date) — Effective date of departure and appointment
FAQ
Who has been appointed as the interim Chief Financial Officer of Archer-Daniels-Midland Company?
Robert W. Usedom has been appointed as the interim Chief Financial Officer.
When was Vikram Lalgudi's departure as CFO effective?
Vikram Lalgudi's departure was effective March 18, 2024.
Is a permanent CFO replacement already in place?
No, Archer-Daniels-Midland Company has initiated a search for a permanent CFO.
What is the principal executive office address for Archer-Daniels-Midland Company?
The principal executive offices are located at 77 West Wacker Drive, Suite 4600, Chicago, Illinois 60601.
What is the filing date of this Form 8-K?
The filing date of this Form 8-K is March 20, 2024.
Filing Stats: 629 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2024-03-20 17:06:37
Key Financial Figures
- $35,000 — ment of a cash stipend in the amount of $35,000 to Mr. Roig, in addition to his base sa
- $1,000,000 — ted on March 18, 2024, in the amount of $1,000,000, with the number of RSUs to be determin
Filing Documents
- d811385d8k.htm (8-K) — 26KB
- g811385g0320090002628.jpg (GRAPHIC) — 3KB
- 0001193125-24-072814.txt ( ) — 190KB
- adm-20240318.xsd (EX-101.SCH) — 4KB
- adm-20240318_def.xml (EX-101.DEF) — 13KB
- adm-20240318_lab.xml (EX-101.LAB) — 22KB
- adm-20240318_pre.xml (EX-101.PRE) — 14KB
- d811385d8k_htm.xml (XML) — 5KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ARCHER-DANIELS-MIDLAND COMPANY Date: March 20, 2024 By /s/ R. B. Jones R. B. Jones Senior Vice President, General Counsel and Secretary