ADM - ADM Executive Bonuses Delayed Amidst Accounting Probe Leaked Memo Reveals: Report | Benzinga
According to a leaked memo, Archer-Daniels-Midland Co (ADM) has decided to postpone the payment of performance bonuses to some of its executives. The decision comes in the wake of an ongoing investigation into the company’s accounting practices.
What Happened: ADM, a major grains trading company, has put a hold on the payment of performance bonuses to some of its executives until the completion and auditing of its financial statements. This decision was communicated to the staff through a memo on Thursday, Reuters reported.
The delay in bonuses follows the recent sidelining of the company’s chief financial officer and the initiation of an investigation into its accounting practices. The investigation is primarily focused on the nutrition segment, a relatively small unit of ADM’s business that has had a significant impact on executive compensation.
ADM did not immediately respond to Benzinga's request for comment.
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