Archer Daniels Midland moves to Chicago
"While we considered other global hubs, Chicago emerged as the best location to provide efficient access to global markets while maintaining our close connections with U.S. farmers, customers and operations. Chicago also provides an environment where we can attract and retain employees with diverse skills, and where their family members can find ample career opportunities," said ADM Chairman and CEO Patricia Woertz.
The company will now evaluate alternative sites for its new Information Technology and support center, where it expects to locate about 100 new IT jobs. The company said it will continue to consider potential locations for the IT center in several states and expects to make a decision by mid-year 2014.
Ms. Woertz noted that one of the options the company considered was a comprehensive plan that would have established both a larger global headquarters and the information technology center in one location and included state government support and multiyear commitments to stakeholders. However, that plan could not be realized within ADM’s timeframe.
Woertz noted that ADM will continue to have a significant presence in Decatur, which will be designated the company’s North American headquarters, and that the company does not plan any layoffs in connection with the move to a new global center.
Archer Daniels Midland also announced that, as a result of strong operating cash flows and expected improvements in its earnings for 2014, its Board of Directors has voted to raise the company’s regular quarterly cash dividend from 19 cents per share to 24 cents per share, or 26 percent, on the company’s common stock payable March 13, 2014, to stockholders of record at the close of business on Feb. 20, 2014. ■
More inside POST
Walmart to create 10,000 retail jobs Companies