GrainCorp appoints new CEO; did not consult ADM on decision

|About: GrainCorp Ltd. (GRCLF)|By:, SA News Editor

GrainCorp (OTCPK:GRCLF) says that it did not consult former takeover bidder Archer Daniels Midland (NYSE:ADM) over its decision to appoint Mark Palmquist as new CEO, despite ADM still owning almost 20% of the company.

Previous CEO Alison Watkins, resigned last December just days after the Australian government rejected ADM's takeover of GrainCorp.