Patricia Ann Woertz became CEO of Archer Daniels Midland in 2006, beating out 4 other competitors. Formerly an Executive Vice President at Chevron Corporation, Woertz left to pursue CEO opportunities. In an interview with Fortune Magazine, she characterized herself as an outsider at ADM: "I'm outside the company, outside the industry, outside the family, outside the gender expectations."
Born in Pennsylvania in 1953, she studied accounting at Penn State University, graduating in 1974. She first worked for Ernst & Young in Pittsburgh, then moved to Gulf Oil, an Ernst & Young client. There she rose steadily through the ranks, with a stint in Vancouver, British Columbia, 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 and biofuels.
As CEO of ADM, in 2010, Woertz was ranked the 3rd most powerful women 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.[1] Also in 2009, Forbes ranked Woertz as the 26th most powerful woman in the world.[2]
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.[3]