Archer-Daniels-Midland Co.'s chief integrity officer, Ben Bard, is leaving the company for personal reasons, as announced on November 13, 2024. This departure occurs during a period of intense scrutiny over ADM's accounting practices.
The company has been grappling with a months-long accounting scandal and an ongoing probe into its financial reporting. The exit of a key compliance executive at such a critical juncture raises questions about the stability of ADM's internal control remediation efforts.
This development adds to the challenges ADM faces in restoring investor confidence and strengthening its governance framework. The company is actively working to address material weaknesses in its internal controls related to intersegment sales.
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