Archer Daniels Midland

Governance took a reputational hit in 2024–2025 with Nutrition segment accounting issues, leading to an SEC/DOJ probe, a CFO change, and securities litigation.

The board appointed an external CFO (from 3M) and a new CAO (from Cargill), and the company reports that the segment‑disclosure material weakness has been remediated as of 2Q25. These are constructive steps, but the open investigations and litigation, plus return metrics below historical peaks, keep our score cautious.