Indian American executive Monish Patolawala is set to leave 3M and join Archer-Daniels-Midland (ADM), a global food processing and commodities trading corporation, as Executive Vice President and Chief Financial Officer starting August 1.
Patolawala brings over 25 years of experience managing global finance and technology teams in top-tier industrial and healthcare companies, including his most recent role at 3M, as announced by ADM on Wednesday.
In his new role as EVP and CFO at ADM, Patolawala will oversee Global Finance and Accounting, Global Business Services, Global Technology, and Enterprise Strategy.
ADM’s Chair of the Board and CEO, Juan Luciano, expressed enthusiasm about Patolawala’s appointment, stating, “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’s extensive experience and impressive track record in leading global, sophisticated finance and technology organizations and delivering strong results make him an ideal fit for ADM’s continually evolving organization. Today’s announcement culminates the Board’s thorough and thoughtful process to identify a proven leader to oversee our finance team as we execute our strategic and operational priorities.”
Patolawala expressed his enthusiasm for joining ADM as CFO at a crucial point in the company’s development. He recounted his childhood in India, where he experienced severe poverty and hunger, which drives his passion for ADM’s mission to feed the world and improve lives through the power of nature. As part of the executive team, he is eager to use his experience to boost ADM’s operational excellence and discipline, benefiting stakeholders and increasing shareholder value.
On Wednesday, Patolawala resigned as President and CFO of 3M Company, a multinational conglomerate in industry, worker safety, healthcare, and consumer goods. At 3M, he led finance, country prioritization, country governance, information technology, enterprise strategy, and global service centers. He will remain at 3M through July 31 to ensure a smooth transition.
Before joining 3M, Patolawala spent over two decades at GE in various finance roles, including CFO of GE Healthcare from 2015 to 2020, and head of operational transformation for all of GE from 2019 to 2020. He also holds a position on the Board of Directors at Biogen Inc., a leading biotechnology company.
William Brown, 3M’s CEO, expressed gratitude for Patolawala’s leadership and contributions over the past four years, wishing him success in his future ventures on behalf of the entire 3M team.
Patolawala reflected on his tenure at 3M, stating that it was an honor to be part of the leadership team. He expressed pride in their collective achievements and confidence in 3M’s strong position for future success, noting that this was the right moment for him to embrace a new opportunity.
