ADM Shareholder Calls for CEO to Leave as Probe Drags On [Yahoo! Finance Canada]
AT&T Inc. (T)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Now, a shareholder and former executive at a company owned by ADM is calling on Chief Executive Officer Juan Luciano to step down, citing the lack of transparency about exactly what happened and how it will be fixed. In a social media post, Hartwig Fuchs said ADM didn't do enough to reverse the share loss and that the Chicago-based company “doesn't communicate any valuable statements.” Fuchs was board chairman at Toepfer International when ADM owned about 80% of the German trader (it now owns all of it). He was also CEO of Nordzucker AG, one of Europe's largest sugar producers. “If a highly paid CEO of such an important company cannot manage to provide clarity within a few months — i.e., fully clear up the scandal, communicate with full transparency about what went wrong and what will be done in the future, regain investors trust and, above all, protect the company from long-term damage — then he has to go,” Fuchs said. A spokeswoman for ADM declined
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