G. Allen Andreas Jr. is a former chief govt officer and board member of the Archer Daniels Midland Corporate, an agricultural origination and processing company primarily based utterly in Chicago, Illinois.
Early Life and Education
G. Allen Andreas Jr. was once born on June 22, 1943, in Cedar Rapids, Iowa. He earned each and every a bachelor’s degree and a regulation degree from Valparaiso Faculty. Andreas Jr. began his career with the U.S. Treasury Department in 1969 previous than turning into a member of the Archer Daniels Midland Corporate in 1973.
Archer Daniels Midland Corporate
The Archer Daniels Midland Corporate was once primarily based in 1902 by way of George A. Archer and John W. Daniels in Minneapolis, Minn., and began as a linseed crushing plant. In 1923, the company were given the Midland Linseed Products Company to include milling and processing operations. Nowadays, Archer Daniels Midland connects vegetation to markets on six continents, producing foods items similar to oils from soybeans and cottonseed, high fructose corn syrup sweeteners, and wheat flour. In 2020, internet product sales exceeded $64 billion.
#2
Archer Daniels Midland is ranked for the reason that second greatest agribusiness in the world, following Cargill. Agribusiness is the sphere encompassing farming and farming-related trade movements.Â
Inside the 1960s, ADM company were given a soybean processing plant owned by way of Dwayne Andreas. By way of 1970, Dwayne Andreas was once named CEO of Archer Daniels Midland and he filled key govt positions with family members, at the side of his nephew, G. Allen Andreas, Jr.
G. Allen Andreas Jr. joined Archer Daniels Midland in 1973 as an felony skilled. Dwayne Andreas remained CEO for 27 years and in every single place his tenure, ADM product sales grew from $450 million to $14 billion. G. Allen Andreas Jr. modified Dwayne Andreas in 1997 amid a price-fixing scandal and prison trouble at Archer Daniels Midland,
The fee-fixing scandal payment the corporate $100 million in fines. 3 former ADM executives were convicted in September 1998, at the side of Dwayne Andreas’ son Michael, the principle variety for CEO as Dwayne’s successor. Michael Andreas served two years in prison.
The board of directors decided on G. Allen Andreas Jr. to rebuild Archer Daniels Midland after the scandal in step with “his strong sense of ethics.” Allen moved in short to hone the company’s ethics insurance coverage insurance policies and magnify abroad, forging ventures in Europe, China, Russia, South The united states, and Africa. ADM’s product sales doubled in 8 years to $36 billion underneath G. Allen Andreas Jr.’s control.
G. Allen Andreas Jr. moreover served as a board member for ADM and he retired from his position as CEO in 2007.
What Strategies Did G. Allen Andreas Use to Lend a hand Rebuild ADM?
In 2000, Andreas revised the problem statement of the agribusiness company to “Unencumber the opportunity of nature to beef up the usual of existence.” The new methodology emphasized the company’s focal point on nutraceuticals, over-the-counter medication created from agricultural chemical substances, and other dietary nutritional dietary supplements.
Who Was the Ultimate Andreas to Art work at Archer Daniels Midland?
When G. Allen Andreas Jr. retired in 2007, he ended a four-decade customized of the Andreas family in control at ADM and was once the general of the family employed with the corporate.
What Had been the Charges Filed for Price-Fixing at ADM?
With whistleblower testimony and a six-year investigation by way of the justice department, professionals concluded that ADM overcharged American consumers for red meat and chicken products in a price-fixing conspiracy.
The Bottom Line
G. Allen Andreas Jr. served as a board member and CEO of the Archer Daniels Midland Corporate. His family’s have an effect on at ADM ended together with his retirement in 2007. He is credited with successfully rebuilding the recognition of the company after a price-fixing scandal in 1997.
