ADM Launches Accounting Probe, Places CFO on Leave
Archer Daniels Midland is facing an accounting investigation, prompting the company to postpone the release of its financial reports and adjust its earnings expectations for the year. The top financial executive, Vikram Luthar, has been placed on administrative leave in response to a voluntary document request by the U.S. Securities and Exchange Commission. The company is cooperating with the SEC and working to complete the investigation quickly, while an interim CFO has been named.