Global grain trader Archer-Daniels-Midland (ADM) has appointed Monish Patolawala as its new chief financial officer and executive vice president, effective 1 August 2024.
Patolawala succeeds Ismael Roig, who has been serving as interim chief financial officer of ADM since January 2024, the company added.
Roig will continue to serve as ADM's president of EMEA and president of animal nutrition.
Most recently, Patolawala served as president and chief financial officer of 3M Company.
In this role, he led finance, country prioritisation and country governance, information technology, enterprise strategy, and global service centres.
'Extensive Experience'
Commenting on the appointment, ADM chair and chief executive, Juan Luciano, said, "Monish has extensive experience and an impressive track record leading global, sophisticated finance and technology organisations 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 organisation."
Before joining 3M, he spent more than two decades at GE in various finance roles, including as CFO of $20-billion GE Healthcare from 2015 to 2020, and as head of operational transformation for all of GE from 2019 to 2020.
Currently, he also serves on the board of directors of biotechnology firm Biogen Inc.
Read More: Grain Trader ADM Beats Quarterly Profit Estimates As Costs Ease
Patolawala stated, “It is an honour to join ADM as CFO at an important point in the company’s trajectory. 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.”
