Archer Daniels Midland Shareholders Back Board, Reject Pesticide Disclosure Push

Important Points

• Interested in Archer Daniels Midland Company? Here are five stocks we like best.

• ADM shareholders re-elected all 13 board nominees and approved management-backed items, including executive compensation on a consulting basis, the confirmation of Ernst & Young as auditor, and the amendment to the 2020 Incentive Compensation Plan.

• Shareholders reject the proposal from As You Sow would have required ADM to disclose more information about pesticide use associated with its regenerative agriculture program.

• Commenting on the meeting, CEO Juan Luciano said that ADM has written $3.2 billion in operating profit segment by 2025, generated strong cash flow, and continued cost savings, portfolio simplification, carbon capture, and efficient AI-driven efforts.

Archer Daniels Midland (NYSE:ADM) shareholders elected all 13 director nominees and approved several management-backed proposals at the company’s 103rd annual meeting, while rejecting a shareholder proposal seeking more disclosure about pesticide use data associated with ADM’s renewable agriculture program.

Regina Jones, ADM’s senior vice president, chief legal officer and corporate secretary, said the company has 481,895,100 shares of common stock outstanding and entitled to vote as of the record date of March 13, 2026. Jones said a quorum was present and that the final vote totals would be verified by the auditor of elections and reported on Form 8-K filed with the Securities and Exchange Commission.

Stockholders Approve Board Nominees and Compensation Items

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Juan Luciano, who is the chairman of the board of ADM, the president and the chief executive officer, presented the slate of directors of this company, and said that the board has set its size at 13 members. Shareholders 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 show all directors were elected by a “majority of the votes cast.” Shareholders also approved, on an advisory basis, the compensation of ADM’s executive officers.

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In addition, shareholders approved the Audit Committee’s appointment of Ernst & Young as ADM’s independent auditor in 2026 and approved an amendment to the Company’s 2020 Dividend Compensation Plan.

Pesticide Disclosure Proposal Failed

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 cost and without proprietary information, disclosing how and if the company could incorporate pesticide use information into its regenerative agriculture system.

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Cailin Dendas, who leads the Environmental Health Program at As You Sow, presented the proposal. He pointed out that the use of pesticides can reduce the quality of soil health and harm farm workers, fenced communities, biodiversity, pollinators, air quality and water quality. Dendas said ADM defines regenerative farming as a results-based farming method that protects and improves soil health, but said the company does not require regenerative farmers to reduce or eliminate pesticide use.

Dendas also said that ADM already tracks pesticide use on what he described as “a large portion” of registered farms using the Gradable platform, and that the proposal would have asked the company to disclose the data it has collected. He said such disclosure would help shareholders to assess whether ADM is facing the risks associated with it.

Luciano said the board recommended voting against the proposal, saying that, as expressed by the representative, the board believed it was not in the best interest of ADM and its shareholders. Jones later said the proposal was rejected.

Luciano Highlights 2025 Results and Key Highlights

In the remarks following the official business part of the meeting, Luciano described the year 2025 as a year “defined by difficulty,” citing the changing global and trade situation, the large amount of global grain and oilseeds, uncertainty in the policy of biofuels, changing consumer behavior and restricting the flow of exports to markets including China.

Luciano said ADM delivered $3.2 billion in operating profit and strong cash flow while maintaining a strong balance sheet. He also highlighted ADM’s dividend history, saying that the company has increased its dividend for 53 consecutive years and has paid uninterrupted dividends for more than ninety years.

Luciano said ADM achieved nearly $200 million in cost savings by 2025 and remained on track for its multi-year goal. He also cited plant efficiencies, restoring operations at the company’s Decatur East facility and more than 20 portfolio simplification actions, including ADM’s animal feed joint venture with Alltech.

ADM also reached what Luciano called a “decarbonization milestone” by connecting its Columbus, Nebraska, facility to carbon capture infrastructure, which he described as the largest bioethanol carbon capture and storage project in the world. He said ADM has expanded partnerships with more than 28,000 farmers to promote renewable agriculture and strengthen supply chain sustainability.

Platforms for growth and use of AI

Luciano identified several areas of growth for ADM, including Advanced Foods, Active Health, Biosolutions, Precision Fermentation and Decarbonization. He said these plans are aimed at growing the company’s core businesses while expanding into new markets.

During the conference’s question-and-answer portion, Luciano said ADM uses artificial intelligence, data and automation in a “proactive and feedback-driven way.” He said the company uses advanced analytics and automation in plants and supply chains to improve efficiency, predict maintenance needs and increase efficiency. He also said that ADM is using AI to improve nutrition and health, as well as predict and understand customers.

Luciano said AI is “not a trend alone” but supports efficiency, innovation and growth, adding that ADM uses the technology through governance and board oversight.

Board Information and Tax Practice Area

In response to a question from shareholders about whether ADM has directors with agricultural experience, Luciano said that at least two directors have experience as farm and ranch owners. He said the board is deliberately evaluating the composition so that skills and knowledge are aligned with ADM’s strategy, including agriculture, technology, computer security, health and consumer health, financial technology and capital allocation for existing directors.

Luciano also answered a question about why ADM decided to change the location of some tax accounting work. He said ADM is constantly evaluating how work is organized and where it is done across the organization as part of efforts to strengthen competition. Luciano said the company aims to improve efficiency, improve consistency and support business needs while maintaining governance, compliance and risk management standards.

Looking ahead, Luciano said ADM expects stronger visibility in supply and demand, including further clarification of biofuels policy and improved trade flows, while continuing to monitor the country’s conflict and consumer dynamics. He said ADM is focused on manufacturing, product development, innovation and long-term value creation as it approaches its 125th anniversary in 2027.

About Archer Daniels Midland (NYSE:ADM)

Archer Daniels Midland Company (ADM) is a global agricultural processor and feed ingredient supplier that imports, transports and processes oilseeds, corn, wheat and other agricultural commodities. The company operates large crushing, refining and processing facilities that produce vegetable oil, protein feed, corn starch, starch, ethanol, animal feed and a variety of food and industrial ingredients. ADM also develops ingredients and solutions for human and animal nutrition, food and beverage formulations, and industrial applications such as bio-based and renewable fuels.

ADM’s business includes product development and sales as well as downstream manufacturing and formulation of ingredients.

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