ADM to Cut CEO’s Bonus After Accounting Scandal Hit Shares

Archer-Daniels-Midland Co. plans to slash Chief Executive Officer Juan Luciano’s annual cash bonus and laid out a new policy to claw back long-term awards in a bid to “ensure accountability” more than a year after an accounting scandal sent the commodity-trading giant’s shares tumbling.

Luciano is due to receive a 2024 bonus of about $1.2 million, less than half of his target of nearly $3 million, according to a securities filing. That brings his total compensation to roughly $21.6 million, down from $24.4 million in the previous year.

The move comes after ADM adjusted years of financial results ...