ADM appoints Ismael Roig interim CFO during investigation

Archer-Daniels-Midland Company (ADM) has announced the appointment of Ismael Roig as interim chief financial officer (CFO). Roig has worked at the company since 2004. He has held several global operational and financial leadership roles. The appointment takes place following a decision by ADM's board of directors. Its members have placed Vikram Luthar, CFO and Senior Vice President, on administrative leave. The measure is immediate.

Luthar's leave is related to an ongoing investigation. It is led by an external board and ADM's audit committee. The investigation focuses on accounting practices and procedures. Specifically, in ADM's nutrition segment and certain intersegment transactions. ADM's investigation was initiated following a voluntary request for documents by the U.S. Securities and Exchange Commission (SEC). Several lawyers also carry out investigations with the aim of filing class action lawsuits in the United States.

Ismael Roig recently served as president of EMEA at ADM and as president of the animal nutrition segment, a role to which he was appointed in late 2022. He holds a BSc from the University of Reading, UK, a MSc in industrial engineering from the Cranfield Institute of Technology, United Kingdom, MBA from the University of Virginia Darden School of Business, as well as a Chartered Financial Analyst Credential.