The Board of Directors has nominated Dr Lei Zhang Schlitz to stand for election to the board at the company’s upcoming Annual Stockholders’ Meeting on May 1, 2019.
Dr Schlitz has held a series of senior-level positions for Illinois Tool Works Inc. (ITW), an innovative, diversified Fortune 200 manufacturing company with operations in 55 countries, approximately 48,000 employees, and more than 18,000 current and pending patents. Currently, she serves as executive vice president of ITW’s Food Equipment segment, a $2.2 billion business that designs and manufactures state-of-the-art commercial ovens, dishwashers, refrigerators, food processing equipment, and after-sales services for commercial food service and food retail customers around the globe.
Daniel Shih, who has served as an ADM director since 2012, has informed the board that he will not seek re-election at the annual stockholders’ meeting.
“Lei Schlitz’s tremendous knowledge, experience and leadership at a global manufacturing company will make her a strong addition to our Board,” said Chairman and CEO Juan Luciano. “Lei offers significant expertise in technology innovation, financial discipline, strategy development, and manufacturing excellence - all key elements as we continue to advance our strategy and growth efforts around the globe. On behalf of the board and our entire company, I’d like to thank Daniel for his service to ADM. We are a better company today thanks to his leadership.”
The company also announced the creation of a new Board committee on Sustainability and Corporate Responsibility. The committee, which will be formally launched at the upcoming May 2019 Board meeting and chaired by Board member Suzan Harrison, will set strategic objectives, goals and strategies for the company’s sustainability and corporate citizenship efforts.
“Our extensive social and environmental goals are integral to our overall business goals, and thus deserving of the highest level of guidance and leadership from our Board,” Luciano said. “Our Board’s expertise and commitment to our corporate citizenship values will ensure that they remain prioritised at the centre of our strategy.”