(Reuters) – Grains trader Archer-Daniels-Midland on Wednesday named Carrie Nichol as its chief accounting officer, effective March 1, 2025, as the company continues to grapple with accounting irregularities.
Nichol previously headed accounting operations at global trading house and ADM competitor, Cargill. She will succeed ADM’s corporate controller Molly Fruit, who will be transitioning into another role.
The appointment follows a period of financial challenges for ADM during which the company has been forced to revise its financial statements for multiple fiscal years, including 2023 and the first two quarters of 2024.
The company has had to correct financial data for each year from 2018 to 2023, after an internal investigation found some sales between business units within the company were not recorded properly.
ADM is set to report its financial statements for the fourth quarter of 2024 next week on February 4.
(Reporting by Vallari Srivastava in Bengaluru; Editing by Tasim Zahid)
