Patricia A. Woertz

Patricia A. Woertz
Woertz during the WEF 2012
Born (1953-03-17) March 17, 1953[1]
Pittsburgh, Pennsylvania, U.S.[1][2]
Alma mater Penn State University
Occupation Retired corporate executive

Patricia Ann Woertz, (born March 17, 1953),[1] is a retired American businesswoman. She has formerly served as the President and CEO of Archer Daniels Midland.[3] She was previously Executive Vice President of the Chevron Corporation, where she spent 29 years and served as its Executive Vice President of Global Downstream.[4] As of 2014, she is listed as the 85th most powerful woman in the world by Forbes.[5]

Education and early career

Born in Pittsburgh, Pennsylvania[2] in 1953, she studied accounting at Penn State University, graduating in 1974. She first worked for Ernst & Young in Pittsburgh, then moved to Gulf Oil, an Ernst & Young client. She was briefly in Vancouver, British Columbia, to become President of Chevron International and ultimately Executive Vice President of Chevron's global downstream operations. At ADM, she is expected to focus on ethanol and biofuels.

Archer Daniels Midland career

As CEO of Archer Daniels Midland, in 2010, she was ranked the 3rd most powerful woman by Fortune magazine. In 2009, with a rank of 93, Woertz was the top-ranking woman on the Fortune 500's list of top CEOs.[6] Also in 2009, Forbes ranked Woertz as the 26th most powerful woman in the world.[7] Formerly an Executive Vice President at Chevron Corporation, Woertz left to pursue CEO opportunities. In an interview with Fortune Magazine, she characterized herself as an outsider at ADM: "I'm outside the company, outside the industry, outside the family, outside the gender expectations." While CEO of Archer Daniels Midland in 2009, Patricia A. Woertz earned a total compensation of $14,689,022, which included a base salary of $1,300,000, a cash bonus of $2,040,384, stocks granted of $4,919,563, options granted of $6,356,267, and other compensation totaling $72,807.[8]

She is also a member of the Executive Committee of The Business Council for 2011 and 2012.[9]

2014 has been ADM's best year in the history of the company. Thus as of 2014, Woertz is listed as the 85th most powerful woman in the world by Forbes.[5] Woertz earned a total salary of $29,800,000 in 2014 including a cash bonus of $9,300,000 and stocks granted of $7,550,000.

On November 5, 2014, ADM announced that effective January 1, 2015, Juan Luciano will become the company's new CEO.[10]

Personal life

Woertz currently resides in Chicago, IL.

References

  1. 1 2 3 Allen, Justin. "Patricia A. Woertz 1953— Biography". ReferenceForBusiness.com.
  2. 1 2 "ADM Names Patricia A. Woertz Ceo And President, G. Allen Andreas Continues As Chairman Of The Board". ADM.com.
  3. ↑ "Patricia Woertz - 50 Most Powerful Women in Business 2011 - FORTUNE on CNNMoney.com". cnn.com. Retrieved 12 November 2012.
  4. ↑ "Patricia Woertz: Executive Profile & Biography - Businessweek". investing.businessweek.com. Retrieved 20 November 2012.
  5. 1 2 "The World's 100 Most Powerful Women". Forbes. Forbes. Retrieved 26 June 2014.
  6. ↑ "Global 500 2009: Women CEOs". CNN.
  7. ↑ "The 100 Most Powerful Women". Forbes.com.
  8. ↑ 2009 CEO Compensation for Patricia A. Woertz, Equilar.com Archived April 14, 2009, at the Wayback Machine.
  9. ↑ The Business Council, Official website, Executive Committee Archived July 21, 2013, at the Wayback Machine.
  10. ↑ "Pat Woertz retiring; ADM names new CEO". Chicago Tribune. 6 November 2014.
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