Archer Daniels Midland names Juan Luciano CEO

(Reuters) - U.S. agribusiness company Archer Daniels Midland Co named Juan Luciano chief executive, effective Jan. 1. Luciano succeeds Patricia Woertz, who will remain as ADM's chairman and is expected to retire in May 2016. Luciano joined ADM in 2011 and serves as chief operating officer responsible for leading and running the company's global operations, ADM said in a statement. He will be the ninth chief executive in ADM's 112-year history. Woertz has been CEO of the Chicago-based company since April 2006. Luciano, who holds an industrial engineering degree from the Buenos Aires Institute of Technology, previously worked with Dow Chemical Co. ADM, Bunge Ltd, Cargill Inc [CARG.UL] and Louis Dreyfus Corp [LOUDR.UL] are collectively known as the "ABCD" companies that dominate the flow of agricultural commodities around the world. ADM this week reported a rise in quarterly profit and said its biofuel business would remain strong in 2015 due to the low cost of corn. In July, ADM agreed to buy Swiss-German natural ingredient company Wild Flavors for 2.3 billion euros to enter the flavoring and the health-conscious food sectors. ADM's shares closed at $50.31 on the New York Stock Exchange on Wednesday. (Reporting by Supriya Kurane in Bangalore; Editing by Gopakumar Warrier and Robin Paxton)