Nov 13 (Reuters) - Archer-Daniels-Midland Co's ( ADM )
chief compliance officer, Ben Bard, is leaving the company early
next year for personal reasons, the company said on Wednesday.
The news comes one day after the global grain trader, which
has been embroiled in controversy over its accounting practices,
sought an extension from the U.S. Securities and Exchange
Commission to file its third quarter financial report because it
could not meet the deadline.
Accounting irregularities have sparked several government
investigations and led to the departure of CFO Vikram Luthar in
September.
The accounting problems also forced the company to correct
six years of financial data earlier this year after an internal
probe found sales between its nutrition business and other core
units were not recorded properly.
On Wednesday, company spokesperson Jackie Anderson told
Reuters that Bard was leaving the company for personal reasons
and "to make any other assumption is factually inaccurate. ...
His leadership will be greatly missed."
ADM has tried to assuage investor concerns by testing new
internal controls and naming 3M's Monish Patolawala as its new
chief financial officer. Earlier this month, ADM's board of
directors elected AT&T Inc's general counsel, David R. McAtee
II, to its board.
Bard has over 25 years of legal, compliance and risk
management experience, according to ADM's website.
Prior to joining ADM in 2014, he worked at Coca-Cola Co. as
senior anti-corruption and trade sanctions compliance counsel
among other roles.