Archer Daniels Midland Company (NYSE: ADM) has promoted Gary Towne to the newly created role of president, ethanol and risk management, in the company’s Corn business unit.
Towne joined ADM in 1998. He previously served as general manager, global risk/ethanol from 2007 to 2009 before being named chairman of the management board of Alfred C. Toepfer International G.m.b.H., a role he held from 2009 to 2012. Toepfer is a global grain merchandising company based in Hamburg in which ADM holds an 80 percent ownership stake. Earlier in his ADM career, he served as vice president, Corn Processing, and as vice president, ADM Export Company.
“Gary’s executive leadership experience, deep background in our ethanol business and risk-management expertise will be important to our success as we continue managing through a challenging industry environment,” said Mark Bemis, senior vice president and president, ADM Corn business unit.
Towne holds a bachelor’s degree in accounting from Indiana University.
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve vital needs. Today, 30,000 ADM employees around the globe convert oilseeds, corn, wheat and cocoa into products for food, animal feed, industrial and energy uses. With more than 270 processing plants, 420 crop procurement facilities, and the world’s premier crop transportation network, ADM helps connect the harvest to the home in more than 160 countries. For more information about ADM and its products, visit www.adm.com.
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