Chicago-based agribusiness company Archer Daniels Midland Co. (ADM) announced its board of directors has placed Chief Financial Officer and Senior Vice President Vikram Luthar on administrative leave and appointed Ismael Roig as Interim Chief Financial Officer. These actions are in relation to an ongoing investigation by outside counsel for ADM and the board's Audit Committee regarding certain accounting practices and procedures with respect to the company's Nutrition reporting segment, including certain intersegment transactions. Therefore, S&P Global Ratings placed all of its ratings on ADM, including the 'A' issuer credit rating, on CreditWatch with negative implications. The CreditWatch indicates the increased likelihood for a downgrade pending the resolution of the investigation and the outcome of the company's upcoming annual financial statement
