GrainCorp did not consult ADM on its decision to appoint new CEO - chairman

SYDNEY Mon Aug 11, 2014 9:32pm EDT

SYDNEY Aug 12 (Reuters) - GrainCorp Ltd said on Tuesday it did not consult former takeover bidder Archer Daniels Midland Co over its decision to appoint Mark Palmquist as new managing director and chief executive officer.

Don Taylor, executive chairman and interim CEO of GrainCorp, said the company did not consult ADM despite it owning almost 20 percent and rumours persisting that the U.S. agribusiness would return with a renewed bid for GrainCorp in the future. (Reporting by Colin Packham; Editing by Paul Tait)

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