G. Allen Andreas Jr.
- Allen Andreas Jr. is a former chief executive officer and board member of the Archer Daniels Midland Corporation, an agricultural origination and processing company situated in Chicago, Illinois.
Early Life and Education
- Allen Andreas Jr. was brought into the world on June 22, 1943, in Cedar Rapids, Iowa. He earned both a four year certification and a law degree from Valparaiso University. Andreas Jr. started his career with the U.S. Treasury Department in 1969 before joining the Archer Daniels Midland Corporation in 1973.
Archer Daniels Midland Corporation
The Archer Daniels Midland Corporation was established in 1902 by George A. Archer and John W. Daniels in Minneapolis, Minn., and started as a linseed smashing plant. In 1923, the company acquired the Midland Linseed Products Company to incorporate processing and processing operations. Today, Archer Daniels Midland interfaces yields to markets on six mainlands, creating food things, for example, oils from soybeans and cottonseed, high fructose corn syrup sugars, and wheat flour. In 2020, net sales surpassed $64 billion.
Archer Daniels Midland is positioned as the second biggest agribusiness in the world, following Cargill. Agribusiness is the area enveloping endlessly cultivating related commercial activities.
During the 1960s, ADM company acquired a soybean processing plant owned by Dwayne Andreas. By 1970, Dwayne Andreas was named CEO of Archer Daniels Midland and he filled key executive positions with family members, including his nephew, G. Allen Andreas, Jr.
- Allen Andreas Jr. joined Archer Daniels Midland in 1973 as an attorney. Dwayne Andreas remained CEO for quite a long time and during his tenure, ADM sales developed from $450 million to $14 billion. G. Allen Andreas Jr. supplanted Dwayne Andreas in 1997 in the midst of a cost fixing scandal and legal difficulty at Archer Daniels Midland,
The cost fixing scandal cost the corporation $100 million in fines. Three former ADM executives were sentenced in September 1998, including Dwayne Andreas' child Michael, the best option for CEO as Dwayne's replacement. Michael Andreas served two years in jail.
The board of directors picked G. Allen Andreas Jr. to modify Archer Daniels Midland after the scandal in light of "his strong feeling of ethics." Allen moved rapidly to sharpen the company's ethics policies and grow overseas, fashioning adventures in Europe, China, Russia, South America, and Africa. ADM's sales multiplied in eight years to $36 billion under G. Allen Andreas Jr's. leadership.
- Allen Andreas Jr. likewise filled in as a board member for ADM and he retired from his position as CEO in 2007.
The Bottom Line
- Allen Andreas Jr. filled in as a board member and CEO of the Archer Daniels Midland Corporation. His family's influence at ADM ended with his retirement in 2007. He is credited with effectively modifying the reputation of the company after a cost fixing scandal in 1997.
- Allen Andreas Jr. was the CEO of agribusiness leader, Archer Daniels Midland Corporation.
- Andreas joined ADM in 1973 as an attorney.
- He is credited with revamping Archer Daniels Midland following a price-fixing scandal in 1997.
Who Was the Last Andreas to Work at Archer Daniels Midland?
At the point when G. Allen Andreas Jr. retired in 2007, he ended a four-decade custom of the Andreas family in leadership at ADM and was the last of the family employed with the corporation.
What Were the Charges Filed for Price-Fixing at ADM?
With whistleblower declaration and a six-year investigation by the justice department, specialists reasoned that ADM overcharged American consumers for pork and chicken products in a cost fixing scheme.
What Strategies Did G. Allen Andreas Use to Help Rebuild ADM?
In 2000, Andreas reexamined the mission statement of the agribusiness company to "Open the capability of nature to work on the quality of life." The new strategy underlined the company's attention on nutraceuticals, over-the-counter drugs produced using agricultural synthetic compounds, and other dietary enhancements.