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Shareholder demands ADM CEO's resignation amid ongoing criminal investigation

share-iconTuesday, December 31 comment-icon3 weeks ago 9 views
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reutersREUTERS
Shareholder demands ADM CEO's resignation amid ongoing criminal investigation

Credited from: REUTERS

  • A shareholder of Archer-Daniels-Midland (ADM) is urging the CEO Juan Luciano to resign due to a lack of transparency regarding internal accounting issues.
  • The call for resignation comes as ADM is under a criminal investigation for potential securities fraud and misconduct.
  • Hartwig Fuchs, a former chairman at Toepfer, criticized ADM's management, stating, "The fish always stinks from the head."
  • ADM has previously amended its financial reports and cut its 2024 profit outlook following internal challenges.
  • With a 30% drop in stock price over the year, shareholders are expressing frustration and demanding accountability from leadership.

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