Archer Daniels Midland (ADM) has issued an announcement.
Archer-Daniels-Midland Company and Vikram Luthar have agreed on a Transition Agreement wherein Luthar will step down on September 30, 2024, or possibly earlier by mutual consent. During the transition, he will serve as a non-executive employee, assisting the company and receiving his usual salary and benefits. Luthar will collect his 2023 performance incentive and shares from the 2021 award, in line with the company’s executive compensation metrics. Upon leaving, he’s set to get a prorated 2024 incentive and retirement benefits, as long as he stays through July 1, 2024, and meets the company’s equity award conditions.
For a thorough assessment of ADM stock, go to TipRanks’ Stock Analysis page.
