The company said its board placed Chief Financial Officer Vikram Luthar on administrative leave, effective immediately, on January 19, 2024, and appointed Ismael Roig as Interim Chief Financial Officer on January 21.

1. 01

   The company said its board placed Chief Financial Officer Vikram Luthar on administrative leave, effective immediately, on January 19, 2024, and appointed Ismael Roig as Interim Chief Financial Officer on January 21.

2. 02

   The company said Luthar's leave is pending an outside counsel and Audit Committee investigation into accounting practices and procedures for its Nutrition reporting segment, including intersegment transactions. It said the investigation was launched in response to a voluntary document request from the SEC.

3. 03

   ADM said it now expects fiscal 2023 adjusted earnings per share above $6.90, subject to completion of its annual close processes and internal controls. It also said it withdraws all of its forward-looking outlook for the Nutrition segment because of the ongoing investigation.

4. 04

   The company said it expects to delay its earnings release and conference call for Q4 2023 results, as well as the filing of its Form 10-K for the year ended December 31, 2023, from its historical schedule.

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Original filing

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