ADM Reorganizes Executive Staff
Times Staff and Wire Reports
Archer-Daniels-Midland Co. created a four-person office of the chief executive, promoting two insiders who might succeed longtime Chief Executive Dwayne Andreas. The Decatur, Ill.-based agribusiness concern, which earlier this month pleaded guilty to price fixing, has also been criticized for its leadership, long dominated by the Andreas family. ADM said oil-seed processing division President Charles Bayless, 61, and executive committee counsel Allen Andreas, 53, will join 25-year CEO Andreas, 78, and President James Randall, 72, and that the four will function as a team. Allen Andreas is Dwayne Andreas’ nephew. ADM shares rose 37.5 cents to $21.875 on NYSE.
