ADM’s CFO Placed on Leave, Earnings Forecast Slashed Amid Investigation

(Bloomberg) — Archer-Daniels-Midland Co. has taken action ⁤against its chief financial officer⁤ and revised its earnings forecast while an⁤ investigation is underway into the company’s accounting ⁢practices. CFO‌ Vikram Luthar has been placed ‍on administrative leave, and Ismael Roig will serve as interim CFO. The investigation is in‍ response to a voluntary document⁢ request by​ the Securities and⁢ Exchange Commission and focuses on certain practices and procedures related to the company’s nutrition reporting segment. ADM is cooperating with ‌the SEC. The company has been⁣ expanding its nutrition business since‍ 2014, but profits have not met expectations ‌due to weakening demand. For more⁣ details,‍ you can read the full⁤ article ‌on finance.yahoo.com