Archer Daniels Midland appoints new chief compliance officer

Benjamin Bard becomes new CCO of ADM

Archer Daniels Midland (ADM) is one of the largest agricultural processors in the world, and has recently gotten into hot water over allegations of bribery. In light of these recent difficulties, ADM has appointed a new chief compliance officer, Benjamin Bard.

In December of 2013, ADM and one of its subsidiaries settled bribery charges with the Department of Justice (DOJ) and the Securities and Exchange Commission, to the tune of more than $54 million. In the case, the ADM subsidiary was accused of paying bribes through vendors to Ukrainian government officials in order to obtain value-added tax refunds. This was a clear violation of the Foreign Corrupt Practices Act (FCPA). As a result of the settlement, ADM entered into a non-prosecution agreement with the DOJ regarding failure to implement a system of internal controls. 

Senior Editor and Community Manager

author image

Rich Steeves

Richard P. Steeves is Senior Editor and Community Manager of InsideCounsel magazine, where he covers the intellectual property and compliance beats. Rich earned a B.A....

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.