SAO PAULO, April 9 (Reuters) - U.S. grain trader

Archer-Daniels-Midland Co ( ADM ) has appointed an executive

whose division was involved in accounting irregularities that

have drawn federal scrutiny to a newly created role as president

for North America, according to a source and an internal memo

seen by Reuters on Wednesday.

The executive, Christopher Cuddy, will continue in his

current role as global president of carbohydrate solutions,

according to the memo.

ADM did not have an immediate comment on the organizational

change.

The Chicago-based company has been dealing with cost

pressures that triggered layoffs and an accounting scandal that

forced it to revise six years of financial statements, which

sent shares plummeting.

Under Cuddy's leadership, ADM's

carbohydrate solutions unit

was involved in

inter-segment transactions

at below-market rates that artificially boosted the

company's nutrition segment's operating profit over a six-year

period. The performance of the nutrition segment was tied to an

outsized proportion of executive compensation during that time.

ADM remains under federal investigation following the

accounting irregularities.

A filing last year showed that ADM had overstated the

nutrition segment's annual operating profit by as much as 9.2%

between 2018 and 2023, while Cuddy's carbohydrate solutions

division understated operating profit by as much as 4%.

Juan Luciano, ADM's chief executive, said in the memo

that "given the dynamic geopolitical environment, we believe

that adapting our current geographical alignment will enhance

ADM's ability to drive our strategy forward."

Cuddy is tasked with working closely with Domingo Lastra,

ADM's president for Latin America, as the company puts Mexico

and the Caribbean under the North America structure, the memo

said.

ADM in February said it would

cut up to 700 jobs

and reduce costs by $500 million to $750 million over the

next three to five years, after posting its lowest

fourth-quarter adjusted profit in six years. The job cuts would

represent about 1.7% of the company's global workforce.

ADM shares are down 38% since news of the accounting

issues broke in January 2024, sending its market value plunging

to just above $20 billion from nearly $37 billion previously,

according to LSEG data.