Patricia Ann Woertz, (born March 17, 1953), is a retired American businesswoman. She has formerly served as the President and
CEO
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
of
Archer Daniels Midland
The Archer-Daniels-Midland Company, commonly known as ADM, is an American multinational food processing and commodities trading corporation founded in 1902 and headquartered in Chicago, Illinois. The company operates more than 270 plants and 42 ...
. She was previously Executive Vice President of the
Chevron Corporation
Chevron Corporation is an American multinational energy corporation. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California (shortened to Socal or CalSo), it is headquartered in S ...
, where she spent 29 years and served as its Executive Vice President of Global Downstream. As of 2014, she is listed as the 85th most powerful woman in the world by ''Forbes''.
Education and early career
Born in
Pittsburgh
Pittsburgh ( ) is a city in the Commonwealth (U.S. state), Commonwealth of Pennsylvania, United States, and the county seat of Allegheny County, Pennsylvania, Allegheny County. It is the most populous city in both Allegheny County and Wester ...
,
Pennsylvania
Pennsylvania (; ( Pennsylvania Dutch: )), officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States. It borders Delaware to its southeast, ...
in 1953, she studied accounting at
Penn State University
The Pennsylvania State University (Penn State or PSU) is a public state-related land-grant research university with campuses and facilities throughout Pennsylvania. Founded in 1855 as the Farmers' High School of Pennsylvania, Penn State became ...
, graduating in 1974.
She first worked for
Ernst & Young
Ernst & Young Global Limited, trade name EY, is a multinational professional services partnership headquartered in London, England. EY is one of the largest professional services networks in the world. Along with Deloitte, KPMG and Pricewaterh ...
in
Pittsburgh
Pittsburgh ( ) is a city in the Commonwealth (U.S. state), Commonwealth of Pennsylvania, United States, and the county seat of Allegheny County, Pennsylvania, Allegheny County. It is the most populous city in both Allegheny County and Wester ...
, then moved to
Gulf Oil
Gulf Oil was a major global oil company in operation from 1901 to 1985. The eighth-largest American manufacturing company in 1941 and the ninth-largest in 1979, Gulf Oil was one of the so-called Seven Sisters oil companies. Prior to its merger ...
, an Ernst & Young client. She was briefly in
Vancouver, British Columbia
Vancouver ( ) is a major city in western Canada, located in the Lower Mainland region of British Columbia. As the List of cities in British Columbia, most populous city in the province, the 2021 Canadian census recorded 662,248 people in the ...
, to become President of Chevron International and ultimately Executive Vice President of Chevron's global downstream operations. At ADM, she is expected to focus on
ethanol
Ethanol (abbr. EtOH; also called ethyl alcohol, grain alcohol, drinking alcohol, or simply alcohol) is an organic compound. It is an Alcohol (chemistry), alcohol with the chemical formula . Its formula can be also written as or (an ethyl ...
and
biofuel
Biofuel is a fuel that is produced over a short time span from biomass, rather than by the very slow natural processes involved in the formation of fossil fuels, such as oil. According to the United States Energy Information Administration (E ...
s.
Archer Daniels Midland career
As CEO of
Archer Daniels Midland
The Archer-Daniels-Midland Company, commonly known as ADM, is an American multinational food processing and commodities trading corporation founded in 1902 and headquartered in Chicago, Illinois. The company operates more than 270 plants and 42 ...
, in 2010, she was ranked the 3rd most powerful woman by Fortune magazine. In 2009, with a rank of 93, Woertz was the top-ranking woman on the Fortune 500's list of top CEOs. Also in 2009,
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...
ranked Woertz as the 26th most powerful woman in the world. Formerly an Executive Vice President at
Chevron Corporation
Chevron Corporation is an American multinational energy corporation. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California (shortened to Socal or CalSo), it is headquartered in S ...
, Woertz left to pursue CEO opportunities. In an interview with ''
Fortune
Fortune may refer to:
General
* Fortuna or Fortune, the Roman goddess of luck
* Luck
* Wealth
* Fortune, a prediction made in fortune-telling
* Fortune, in a fortune cookie
Arts and entertainment Film and television
* ''The Fortune'' (1931 film) ...
'' Magazine, she characterized herself as an outsider at ADM: "I'm outside the company, outside the industry, outside the family, outside the gender expectations."
While CEO of Archer Daniels Midland in 2009, Patricia A. Woertz earned a total compensation of $14,689,022, which included a base salary of $1,300,000, a cash bonus of $2,040,384, stocks granted of $4,919,563, options granted of $6,356,267, and other compensation totaling $72,807.
She is also a member of the Executive Committee of
The Business Council
The Business Council is an organization of business leaders headquartered in Washington, D.C.The Business Council, Official website, Executive Committee
2014 has been ADM's best year in the history of the company. Thus as of 2014, Woertz is listed as the 85th most powerful woman in the world by ''Forbes''. Woertz earned a total salary of $29,800,000 in 2014 including a cash bonus of $9,300,000 and stocks granted of $7,550,000.
On November 5, 2014, ADM announced that effective January 1, 2015, Juan Luciano will become the company's new CEO.