February 25/Decatur, Ill./Business Wire -- Archer Daniels Midland Company announced the promotion of Juan R. Luciano to president, effective immediately. He is the 12th person to serve as president in the company’s 112-year history and assumes this role in addition to his position as chief operating officer.

Luciano oversees the commercial and production activities of ADM’s corn, oilseeds and agricultural services businesses, as well as its research, project-management and risk-management functions. He will continue to report to ADM chairman and CEO Patricia A. Woertz.

“Today’s appointment recognizes the excellent results Juan has achieved over the last three years as he has focused the ADM team on improved returns and laid the groundwork for enhanced earnings power,” Woertz said. “He has energized the organization around improvements in costs, cash and capital, and has brought both discipline and vision to ADM’s global strategy for profitable growth.

“On behalf of all our colleagues throughout ADM, I want to congratulate Juan on this well-earned promotion. I am confident that, in partnership with our colleagues, he will continue to create greater value for ADM’s shareholders and employees.”

Luciano joined ADM in April 2011, following a 25-year tenure at The Dow Chemical Company, where he last served as executive vice president and president of the performance division.