CHICAGO, IL (TIP): Indian American executive Monish Patolawala is leaving 3M to join Archer-Daniels-Midland (ADM), an American multinational food processing and commodities trading corporation, as Executive Vice President and Chief Financial Officer, from August 1.
Patolawala brings to ADM more than 25 years of experience overseeing global finance and technology teams across leading industrial and healthcare companies, most recently including 3M, according to a company announcement Wednesday.
As EVP and CFO of ADM, Patolawala will be responsible for overseeing Global Finance and Accounting, Global Business Services, Global Technology and Enterprise Strategy.
Chair of the Board and CEO Juan Luciano said, “We are thrilled to have an executive of Monish’s caliber joining ADM as we focus our enterprise on productivity, innovation and delivering with excellence. Monish has extensive experience and an impressive track record leading global, sophisticated finance and technology organizations and delivering strong results. With more than 25 years overseeing innovation and sustainability-focused teams across leading industrial and healthcare companies, we are confident that Monish is a strong fit for ADM’s continually evolving organization. Today’s announcement is the culmination of the Board’s thorough and thoughtful process to identify a proven leader to oversee our finance team as we execute with excellence across our strategic and operational priorities.”
Patolawala said, “It is an honor to join ADM as CFO at an important point in the Company’s trajectory. As a child growing up in India, I witnessed severe poverty and hunger firsthand, and that’s what makes me so passionate about the important work that ADM is doing to feed the world through its purpose of unlocking the power of nature to enrich the quality of life. As a member of the executive team, I look forward to drawing upon my experience to advance ADM’s operational excellence and discipline, as we deliver for our stakeholders and drive shareholder value.”
Patolawala, Wednesday resigned as President and CFO of 3M Company, an American multinational conglomerate operating in the fields of industry, worker safety, healthcare, and consumer goods.
There he led finance, country prioritization and country governance, information technology, enterprise strategy and global service centers. He will stay on at 3M through July 31, to ensure an orderly transition.
Prior to joining 3M, Patolawala spent more than two decades at GE in various finance roles, including as CFO of $20 billion GE Healthcare from 2015 to 2020 and as head of operational transformation for all of GE from 2019 to 2020. Patolawala also currently serves on the Board of Directors of biotechnology leader Biogen Inc.
“On behalf of all 3Mers, I thank Monish for his leadership and contributions to 3M over the past four years,” said William Brown, 3M Chief Executive Officer. “We wish him continued success in his future endeavors.”
“It has been a privilege to work as part of 3M’s leadership team and I am proud of our accomplishments,” said Patolawala. “3M is well positioned for success, and this is the right time for me to transition to a new opportunity.”