In an effort to spark fresh shareholder confidence, Archer Daniels Midland announced a revamped mission statement yesterday. The statment delivered by Chairman G. Allen Andreas indirectly, and yet proactively, addresses the question of biotechnology -- not coincidentally, right after the StarLink corn saga began to surface in major media coverage. Through phrases such as "unlock the potential of nature", ADM hopes to head off any potential biotech aversions and consequently stay out in front of their competition. What follows is yesterday's press release covering ADM's announcement.
DECATUR, Ill., Oct. 26 /PRNewswire/ -- The Archer Daniels Midland Co. today announced a new mission statement that Chairman G. Allen Andreas said "will guide everything we do at ADM."
The statement, "To unlock the potential of nature to improve the quality of life," was unveiled during ADM's annual shareholders meeting, held at the James R. Randall Center in Decatur. Based on a set of seven core beliefs detailed by Mr. Andreas during his address to the audience, the mission statement included a commitment by ADM to "make the world a better place by applying advancements in research and technology to agriculture."
According to the company, the mission is based on ADM's long heritage of developing new products based on agricultural products. Among ADM's products are animal feeds, food ingredients like vegetable oil and corn syrup, renewable automobile fuel ethanol and a new line of nutraceutical products that provide specific health benefits.
"We believe that nature has an answer for most problems," explained G. Allen Andreas. "Our new mission statement acknowledges that fact and clearly articulates our obligation to try and better the living conditions of everyone on this planet." "As a processor of agricultural products, the very nature of our business is intricately intertwined with the health of the planet and it's population," said Andreas. "One of our core beliefs is that agriculture is the key to sustainable economic growth. That is why we have taken the lead in searching for renewable fuel alternatives, higher protein yields and breakthroughs in nutrition."
As part of the announcement, ADM provided every ADM employee with a special wallet-sized card printed with the new mission. "One of the key beliefs contained in our mission statement is that our employees are among our most important resources," explained Andreas. "That's why we provided each and every one with their own copy of our the statement -- so that it can serve as a constant reminder of our unique mission.":
