ADM names new chief executive

Archer Daniels Midland Co. announced Thursday that Juan R. Luciano will become chief executive officer of the agribusiness giant on Jan. 1.

Luciano is the Chicago-based company’s president and chief operating officer.

Patricia Woertz will remain chairman of ADM until her expected retirement in May 2016, the company said Thursday.

Luciano will be the company’s ninth CEO. He joined ADM in 2011 as executive vice president and chief operating officer and in Feburary 2014 was named president. Luciano previously was an executive with The Dow Chemical Co.

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