ADM Incentive Plan Levels Hold Even After Restatements, CEO Says

The compensation packages awarded to Archer-Daniels-Midland Co. executives that were closely tied to the performance of the nutrition division still stand, even after the company <-bsp-bb-link state="{"bbDocId":"SA8L03T0G1KW","_id":"0000018e-3336-dedb-adee-3f3f566f0001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">announced on Tuesday several years of internal earnings adjustments following a financial probe.

“These adjustments did not change the achievement levels under our incentive plans,” Chief Executive Officer <-bsp-person state="{"_id":"0000018e-3336-dedb-adee-3f3f56700000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Juan Luciano said on the company’s earnings call. He told analysts at the start of the call that although ADM’s own investigation into the issue was “substantially complete,” he would not be taking any questions about it since separate inquiries from the US Securities and Exchange Commission ...