On December 30, 2024, a shareholder of Archer-Daniels-Midland, Hartwig Fuchs, publicly called for CEO Juan Luciano to step down. Fuchs, a former board chairman of an ADM-owned firm, cited a lack of transparency regarding the company's accounting problems.
The call for resignation comes as ADM faces an ongoing criminal investigation related to its internal accounting practices. Fuchs stated that ADM was the worst-performing stock in his portfolio for the year, attributing the issues to the CEO's leadership.
This development underscores the significant governance challenges and investor dissatisfaction stemming from the accounting scandal. The company has been under pressure to address its financial reporting irregularities and restore confidence.
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