06:55 AM EST, 12/31/2024 (MT Newswires) -- Archer-Daniels-Midland's ( ADM ) Chief Executive Juan Luciano is being urged to resign as the market is acting "increasingly negatively" toward the company after a law enforcement probe into its internal pricing of inter-company transactions, shareholder Hartwig Fuchs said in a LinkedIn post Monday.

Fuchs added in the post that the company's share price has fallen "significantly" and there seems "obviously no effort on ADM's part to stop or even reverse this trend. "

"If a highly paid CEO of such an important company cannot manage to provide clarity within a few months - i.e. fully clear up the scandal, communicate with full transparency about what went wrong and what will be done in the future, regain investors trust and, above all, protect the company from long-term damage - then he has to go," the post said.

The company's stock fell almost 31% from December last year.

Archer-Daniels-Midland ( ADM ) did not immediately respond to MT Newswires' request for comment.

Shares of the company were down 0.2% in recent Tuesday premarket activity.