Patrick Moore
Archer-Daniels-MidlandAbout Patrick J. Moore
Patrick J. Moore, age 70, has served on ADM’s Board since 2003 and is an independent director with deep finance, risk management, M&A, and operations experience across banking and industrials. He currently chairs the Nominating and Corporate Governance Committee and serves on the Audit Committee, bringing financial expertise and sustainability credentials from prior leadership at Smurfit‑Stone and his private equity advisory work .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| PJM Advisors, LLC (private equity investment and advisory firm) | Founder, President & CEO | 2011–present | Strategic advisory; finance and risk expertise applied to portfolio and advisory work |
| Smurfit‑Stone Container Corporation | Chairman & CEO; earlier CFO, VP‑Treasurer; GM Industrial Packaging | 1987–2011 | Led recycling, energy and water usage reduction, and sustainable forestry initiatives; company filed for Chapter 11 in 2009 and emerged in 2010, informing restructuring and risk insights |
| Continental Bank | Corporate lending, international banking, administration | 1975–1987 | Banking and international finance roles; commodity and operations management experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Energizer Holdings, Inc. | Chairman | Current | Public board leadership; external governance and compensation perspectives |
| St. Louis Zoological Association | Board member | Current | Community engagement and oversight |
| Hoverfly Holdings | Board member | Current | Private company oversight |
| Engineered Corrosion Solutions | Board member | Current | Private company oversight |
| North American Review Board of American Air Liquide Holdings, Inc. | Prior board | Prior | Industrial gas industry exposure |
Board Governance
- Independence: ADM’s Board determined Mr. Moore is independent under NYSE and bylaw standards, with no material relationships impairing independence; ordinary‑course transactions reviewed for certain directors did not include Mr. Moore .
- Committee assignments: Chair, Nominating & Corporate Governance; Member, Audit .
- Meeting cadence and attendance: Board met 11 times; Audit met 17; Nominating & Corporate Governance met 4; all incumbent directors attended ≥75% of Board and applicable Committee meetings; Mr. Moore was unable to attend the 2024 annual meeting .
- Executive sessions: Independent directors met in executive session seven times in 2024 .
| Committee | Role | 2024 Meetings | Notes |
|---|---|---|---|
| Nominating & Corporate Governance | Chair | 4 | Oversees director recruitment, Board/committee evaluations, governance policy updates, and assigns committee risk oversight areas |
| Audit | Member | 17 | Oversees financial reporting integrity, internal controls, ERM, compliance/ethics, and earnings disclosures |
Fixed Compensation
- ADM’s standard non‑employee director compensation: $330,000 annual retainer (raised from $325,000 effective at the 2024 annual meeting) and chair stipends (Audit Chair $35,000; Compensation Chair $25,000; Nominating & Corporate Governance Chair $20,000; Sustainability & Technology Chair $25,000; Lead Director $50,000, raised from $40,000) .
- Directors may elect up to $125,000 of the annual retainer in cash or stock units; remainder of retainer and stipends are paid in stock units; stock units are fully vested and credited quarterly with dividend equivalents, paid out in cash on the earlier of five years or separation .
| Director (2024) | Cash Fees ($) | Stock Unit Awards ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|
| Patrick J. Moore | 125,000 | 223,750 | 173,223 | 521,973 |
Performance Compensation
| Component | Metrics | Weighting | Outcome |
|---|---|---|---|
| Director equity | Not performance‑based for directors (stock units are fully vested; no PSU framework applies to non‑employee directors) | N/A | No director performance metrics disclosed |
Other Directorships & Interlocks
- Current public company board: Energizer Holdings, Inc. (Chairman) .
- Independence review: Board evaluated director independence and certain ordinary‑course relationships for specific directors; no independence impairment disclosed for Mr. Moore .
Expertise & Qualifications
- Core skills: CEO leadership; finance/accounting; international business; M&A; risk management; sustainability/environment/social; project management .
- NACD recognition: One of four ADM directors recognized in the NACD Directorship 100™ for boardroom leadership and governance excellence .
Equity Ownership
- Common stock owned (beneficially, for valuation purposes): 92,000 shares; footnote indicates this consists of stock units allocated under the Stock Unit Plan deemed equivalent to outstanding common shares for valuation .
- Stock units held as of services through December 31, 2024: 91,066 .
- Stock ownership guidelines: Non‑employee directors must own shares/stock units with a fair market value ≥ five times the maximum cash portion of the annual retainer (maximum cash portion = $125,000) .
- Hedging/pledging: Prohibited for directors and officers; no pledging of company stock allowed .
- Insider trading policy: Company‑wide policy governing transactions in ADM securities was filed as an exhibit to the 2024 10‑K .
| Ownership Detail | Amount / Policy |
|---|---|
| Beneficial “common stock” (stock units deemed equivalent) | 92,000 |
| Stock units (12/31/2024, including dividend equivalents) | 91,066 |
| Stock ownership guideline | ≥5× $125,000 maximum cash retainer |
| Hedging/Pledging | Prohibited |
Insider Trades
- Mr. Moore filed Form 4s reflecting director stock unit plan accruals; recent filings include quarterly stock unit awards under ADM’s Non‑Employee Director Stock Unit Plan .
- Examples: Form 4 filings reported on 03/01/2024 and 09/12/2024; additional filings in 2025 reflect stock unit plan transactions, showing ongoing quarterly awards .
| Date | Form | Nature | Source |
|---|---|---|---|
| 2024‑03‑01 | Form 4 | Director stock unit grant under Stock Unit Plan | |
| 2024‑09‑12 | Form 4 | Director stock unit grant under Stock Unit Plan | |
| 2025‑05‑13 | Form 4 | Director stock unit grant under Stock Unit Plan | |
| 2025‑09‑10 | Form 4 | Director stock unit grant under Stock Unit Plan | |
| 2025‑09‑12 | Form 4 (PDF) | Explanation notes: granted pursuant to Stock Unit Plan for Non‑Employee Directors |
Governance Assessment
- Strengths: Independent status; long tenure with institutional knowledge since 2003; chairs Nominating & Corporate Governance and serves on Audit, contributing to robust oversight of director evaluations, board refreshment, risk oversight assignments, and financial compliance. He led NCG through the annual Board/committee/director evaluation process and supported search/appointment of a new independent director, reinforcing refreshment and risk oversight depth .
- Engagement: Board met 11 times; Audit 17; NCG 4; all incumbents ≥75% attendance; independent executive sessions held seven times. Note Mr. Moore’s inability to attend the 2024 annual meeting (isolated absence) .
- Alignment: Director pay emphasizes equity through fully vested stock units; dividend equivalents credited; stock ownership guidelines set at ≥5× maximum cash retainer; hedging and pledging prohibited, supporting shareholder alignment and risk discipline .
- Risk oversight signals: Audit Committee prioritized remediation of a material weakness and controls testing in 2024; NCG oversaw governance updates and risk oversight assignment, indicating active board engagement on internal control integrity—supportive of investor confidence .
- Shareholder sentiment context: 2024 say‑on‑pay support at ~87% suggests broad investor alignment with compensation philosophy and governance practices, informing committee oversight frameworks Mr. Moore helps lead .