Thursday, July 25, 2024

ADM’s New Executive Vice President and CFO is Monish Patolawala

ADM’s New Executive Vice President (EVP) and Chief Financial Officer (CFO) Monish Patolawala will begin on August 1, 2024. He replaces Ismael Roig who has been acting as interim CFO since January of this year. Over his career, Mr. Patolawala has gained more than 25 years’ experience in finance. And also in technology at major multinational corporations such as 3M.

Solid Leadership Background

Broad Experience

He has led global finance teams. His roles at General Electric (GE) and 3M reflect his skills in this area — he was the Chief Financial Officer for GE Healthcare, which had $20 billion under management.

Vision for ADM

Mr. Patolawala intends to increase productivity across ADM. In addition to Global Finance & Accounting (GFA), these functions include overseeing Global Business Services (GBS), Global Technology (GT) and Enterprise Strategy (ES).

Focus on Innovation and Sustainability

CEO Praises Incoming Executive Vice President

Juan Luciano, CEO of ADM comments on the appointment saying; “We are excited about having Monish join our team because we know that he not only brings a wealth of experience but also innovation which is reflected in his track record within both the financial services sector as well as information technology where most recently served at General Electric Company.”

Personal Commitment towards Agriculture Industry Development

Growing up in India where poverty rates are high amongst its population due largely because there aren’t enough jobs available for everyone resulting thereby causing hunger among many people especially children who cannot afford three square meals day therefore I have always been passionate about agriculture development since it can be used solve this problem once and all by creating employment opportunities so that families may earn income necessary their sustenance while also producing foodstuffs required feed ourselves thus saving lives through elimination malnutrition associated with lack sufficient nutrients required growth healthy bodies besides providing us raw materials needed industrialization process leading economic growth which eventually increases living standards people living areas where such activities take place hence my support behind mission “Feeding the World”.

Smooth Transition

Appreciation to Ismael Roig’s contribution

Juan Luciano spoke highly of Ismael Roig’s work as interim CFO and said; “I want to thank Ismael for his dedication and service. He has done a great job leading our Global Finance team through this transition period.” Mr Roig will remain with ADM, where he is currently president of EMEA (Europe, Middle East & Africa) operations within the Animal Nutrition business unit.

Patolawala’s Achievements

Role at 3M

Mr. Patolawala served as President of 3M Company from September 2018 until February 2021. When he was appointed Chief Financial Officer (CFO) in addition to having responsibility for IT (Information Technology) and enterprise strategy development. Which saw him streamline worldwide operations thereby improving efficiencies thus cutting costs while maintaining high levels performance across organization departments worldwide.

Role at General Electric Company (GE)

During his time at GE, Mr. Patolawala held several leadership roles including Executive Vice President. He also played role as Corporate Audit Staff, Executive Director – Global Business Services Europe, Middle East & Africa (EMEA), Managing Director – Corporate Strategy & Development for Europe Region; among others before serving as Chief Financial Officer of GE Healthcare. Where he oversaw all financial aspects covering over $20 billion revenue generated annually by this business segment alone. Which involved managing both operational expenditure budgets along with capital investments required to run its various divisions successfully.

Conclusion

From 1 August 2024, ADM’s new Executive Vice President and CFO will be Monish Patolawala. With his extensive experience in finance and passion for the industry. There is no doubt that he will be successful in leading this company forward. He plans on increasing productivity within the organization while driving innovation towards sustainability.

 

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