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ADM shareholders re-elected all 13 board nominees and approved management-backed items, including executive compensation on an advisory basis, ratification of Ernst & Young as auditor, and an amendment to the 2020 Incentive Compensation Plan.
Shareholders rejected a proposal from As You Sow that would have required ADM to disclose more detail on pesticide use data tied to its regenerative agriculture program.
In remarks at the meeting, CEO Juan Luciano said ADM posted $3.2 billion in segment operating profit in 2025, generated strong cash flow, and continued advancing cost savings, portfolio simplification, carbon capture, and AI-driven efficiency efforts.
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Archer Daniels Midland (NYSE:ADM) stockholders elected all 13 director nominees and approved several management-backed proposals at the company’s 103rd annual meeting, while rejecting a shareholder proposal seeking additional disclosure on pesticide use data tied to ADM’s regenerative agriculture program.
Regina Jones, ADM’s senior vice president, chief legal officer and corporate secretary, said the company had 481,895,100 shares of common stock outstanding and entitled to vote as of the March 13, 2026, record date. Jones said a quorum was present and that final vote totals would be certified by the inspector of election and reported in a Form 8-K filed with the Securities and Exchange Commission.
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Juan Luciano, ADM’s chair of the board, president and chief executive officer, presented the company’s director slate, saying the board had set its size at 13 members. Stockholders elected all 13 nominees: Mike Burke, Ted Colbert, Jim Collins, Terry Crews, Ellen de Brabander, Suzan Harrison, Juan Luciano, David McAtee, Michael McMurray, Pat Moore, Debra Sandler, Lei Zhang Schlitz and Kelvin Westbrook.
Jones said preliminary results showed all directors were elected “with a substantial majority of the votes cast.” Stockholders also approved, on an advisory basis, the compensation of ADM’s named executive officers.
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In addition, shareholders ratified the Audit Committee’s appointment of Ernst & Young as ADM’s independent auditor for 2026 and approved an amendment to the company’s 2020 Incentive Compensation Plan.
The only shareholder proposal presented at the meeting was submitted by As You Sow on behalf of John Chevedden. The proposal asked ADM to issue a report, at reasonable expense and excluding proprietary information, disclosing if and how the company can incorporate pesticide use data in its regenerative agriculture program disclosures.
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Cailin Dendas, who leads the Environmental Health Program at As You Sow, presented the proposal. She argued that pesticide use can degrade soil health and harm farmworkers, fenceline communities, biodiversity, pollinators, air quality and water quality. Dendas said ADM defines regenerative agriculture as an outcome-based farming approach that protects and improves soil health, but she said the company does not require regenerative growers to reduce or eliminate pesticide use.
Dendas also said ADM is already tracking pesticide use on what she described as “a significant portion” of enrolled farms through the Gradable platform, and that the proposal was asking the company to disclose data it already collects. She said such disclosure would help shareholders evaluate whether ADM is addressing related risks.
Luciano said the board recommended voting against the proposal, stating that, as outlined in the proxy, the board believed it was not in the best interests of ADM and its stockholders. Jones later said the proposal was not approved.
In remarks following the formal business portion of the meeting, Luciano described 2025 as a year “defined by complexity,” citing a shifting geopolitical and trade environment, ample global grain and oilseed supplies, uncertainty in biofuels policy, changing consumer behavior and constrained export flows to markets including China.
Luciano said ADM delivered $3.2 billion in segment operating profit and solid cash flow while maintaining a strong balance sheet. He also highlighted ADM’s dividend record, saying the company has increased its dividend for 53 consecutive years and paid uninterrupted dividends for more than nine decades.
Luciano said ADM achieved approximately $200 million in cost savings during 2025 and remained on track toward its multiyear target. He also cited improved plant efficiency, restored operations at the company’s Decatur East facility and more than 20 portfolio simplification actions, including ADM’s animal nutrition joint venture with Alltech.
ADM also reached what Luciano called a “major decarbonization milestone” by connecting its Columbus, Nebraska, facility to carbon capture infrastructure, which he described as the largest bioethanol carbon capture and storage project globally. He said ADM expanded partnerships with more than 28,000 farmers to advance regenerative agriculture and strengthen supply chain resilience.
Luciano outlined several growth platforms for ADM, including Advanced Nutrition, Functional Health, Biosolutions, Precision Fermentation and Decarbonization. He said these initiatives are intended to leverage the company’s core businesses while expanding into new markets.
During the question-and-answer portion of the meeting, Luciano said ADM is using artificial intelligence, data and automation in a “practical and returns-driven way.” He said the company applies advanced analytics and automation in plants and supply chains to improve efficiency, predict maintenance needs and optimize throughput. He also said ADM is using AI in nutrition and health innovation, as well as in forecasting and customer insights.
Luciano said AI is “not a standalone initiative” but supports operational excellence, innovation and growth, adding that ADM is deploying the technology with governance and board oversight.
In response to a shareholder question about whether ADM has directors with farming experience, Luciano said at least two directors have experience as farm and ranch owner-operators. He said the board evaluates composition deliberately to align skills and experience with ADM’s strategy, citing agriculture, technology, cybersecurity, consumer health and wellness, finance and capital allocation expertise among current directors.
Luciano also addressed a question about why ADM decided to change the location of certain tax accounting work. He said ADM regularly evaluates how work is structured and where it is performed across the organization as part of broader efforts to strengthen competitiveness. Luciano said the company aims to improve efficiency, enhance consistency and support business needs while maintaining governance, compliance and risk management standards.
Looking ahead, Luciano said ADM expects stronger visibility into supply and demand, including greater clarity in biofuels policy and improving trade flows, while continuing to monitor geopolitical conflict and consumer dynamics. He said ADM is focused on productivity, asset optimization, innovation and long-term value creation as it approaches its 125th anniversary in 2027.
Archer Daniels Midland Company (ADM) is a global agricultural processor and food-ingredient provider that sources, transports and processes oilseeds, corn, wheat and other agricultural commodities. The company operates large-scale crushing, refining and processing facilities that produce vegetable oils, protein meals, corn sweeteners, starches, ethanol, animal feeds and a wide range of food and industrial ingredients. ADM also develops specialty ingredients and solutions for human and animal nutrition, food and beverage formulation, and industrial applications such as bio-based materials and renewable fuels.
ADM's business combines commodity origination and merchandising with downstream manufacturing and ingredient formulation.
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The article "Archer Daniels Midland Shareholders Back Board, Reject Pesticide Disclosure Push" was originally published by MarketBeat.
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