Milling & Baking News - June 5, 2018 - 20

Signature Interview

Pursuing stability through
change at The Andersons
Continued from Page 1

Andersons from positions at Cargill.
Mr. Blair came from Intrepid Potash, Inc.,
another fertilizer business. Mr. McNeely
came from FreightCar America, Inc., a
railcar manufacturer, succeeding Rasesh
Shah, a 40-year veteran of The Andersons. Mr. Irmen was promoted after holding multiple positions within the company the previous 30 years.
In November 2015, Mr. Bowe succeeded as c.e.o. Michael J. Anderson, who had
been with the company since 1978 and
had been c.e.o. for 17 years.
Buoyed by a boom in the ag and ethanol markets, shares of The Andersons
more than tripled between 2011 and 2013
to more than $60 a share, and then fell to
a low of just over $23 in February 2016.
The share price has recovered somewhat,
closing recently at $32.70.
"The grain business went from a great
period to a tough period, but it was not just
grain for us," he said. "It was fertilizer, grain
and ethanol (that) all underperformed
here in the last couple of years. So, we're
looking for how we can improve the bottom line of the company, and we are asking our leadership team to be change
agents. Not that we were broken or had a

THE ANDERSONS

a lot of great tradition and culture that
stem from those early family values," Mr.
Bowe said.
Beyond this change at the top, The Andersons is in the midst of something of a
generational change, Mr. Bowe said. About
half its workforce of more than 1,800 has
been at the company for less than five years.
But long tenures have been the norm.
"We have several 40-year employees,"
he said. "People generally stay here for
most of their careers, which is something
we are very proud of. We've had a lot of
change recently, but it was a bit of a timing issue. We had eight or nine of the
corporate leadership team members that
have changed. It's a bit of a natural progression that happens with companies
sometimes."
Newcomers to the leadership team
include Corey Jorgenson, president
of the Grain Group; Valerie Blanchett,
vice-president of human resources; Jeffrey Blair, president of the Plant Nutrient Group; Joseph McNeely, president
of the Rail Group; and Michael Irmen,
president of the Ethanol Group. Mr. Jorgenson and Ms. Blanchett joined The

Patrick E. Bowe
20 / June 5, 2018

Milling & Baking News

catastrophe. It was just that times were
tough. I imagine the other ag companies
would tell you something similar. So we've
been in more of a turnaround mode."
The Andersons' roots date back to the
1940s when Harold and Margaret Anderson opened a grain elevator in Maumee. The business grew initially through
the addition of grain storage as well as
expansion into fertilizer blending and
the opening of a retail store. Additional
grain handling and fertilizer facilities
were added in the 1960s and 1970s. In
the 1980s, outside directors joined the
company's board of directors, and in the
1990s its shares were listed on the NASDAQ exchange with the majority of the
board comprised of independent directors. Also during the 1990s, the company
entered the rail car leasing business, and
in the 2000s, into the ethanol business.
While the overall structure of The Andersons business remains nearly the same
as when Mr. Bowe became c.e.o. in late
2015, change has been instituted across
several aspects of the business.
"We have put in place something I call
the 5 P's," he said. "Everybody reports on
those every month."
The "P's" include Personal Safety, People, Partner of Choice, Productivity and
Profitability.
"I have had lots of exposure to plant
operations throughout my career and am
highly focused on creating a safe workplace," he said. "We had a 32% reduction
in reportable injuries the first year, and
now we've just finished the second year
with another 46% reduction."
A behavioral-based safety program
has been implemented, and that program has helped employees identify
ways to improve work processes across
the company.
The company's second P is "People,"
with a stepped-up focus on succession
planning and career development. The
Andersons has created detailed succession plans across the company. The
Andersons also has updated its development plan process for career advancement for all employees.
"Partner of Choice" has been a third
area of focus at The Andersons. While
Mr. Bowe said the company had a long
history of serving the customer, he is
seeking to build on this heritage with
more advanced tools. On the grain side,
as an example, the company looks to
bakingbusiness.com / world-grain.com


http://www.bakingbusiness.com http://www.world-grain.com

Table of Contents for the Digital Edition of Milling & Baking News - June 5, 2018

http://www.nxtbook.com/sosland/mbn/2019_04_09
http://www.nxtbook.com/sosland/mbn/2019_03_26
http://digitalmbn.bakingbusiness.com/sosland/mbn/2019_03_12
http://digitalmbn.bakingbusiness.com/sosland/mbn/2019_02_26
http://digitalmbn.bakingbusiness.com/sosland/mbn/2019_02_12
http://digitalmbn.bakingbusiness.com/sosland/mbn/2019_01_29
http://digitalmbn.bakingbusiness.com/sosland/mbn/2019_01_15
http://digitalmbn.bakingbusiness.com/sosland/mbn/2019_01_01
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_12_18
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_12_04
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_11_20
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_11_06
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_10_23
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_10_09
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_09_25
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_09_11
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_08_24
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_08_14
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_07_31
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_07_17
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_07_03
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_06_19
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_06_05
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_05_22
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_05_08
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_04_24
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_04_10
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_03_27
http://www.nxtbook.com/sosland/mbn/2018_03_13
http://www.nxtbook.com/sosland/mbn/2018_02_27
http://www.nxtbook.com/sosland/mbn/2018_02_13
http://www.nxtbook.com/sosland/mbn/2018_01_30
http://www.nxtbook.com/sosland/mbn/2018_01_16
http://www.nxtbook.com/sosland/mbn/2018_01_02
http://www.nxtbook.com/sosland/mbn/2017_12_19
http://www.nxtbook.com/sosland/mbn/2017_12_05
http://www.nxtbook.com/sosland/mbn/2017_11_21
http://www.nxtbook.com/sosland/mbn/2017_11_07
http://www.nxtbook.com/sosland/mbn/2017_10_24
http://www.nxtbook.com/sosland/mbn/2017_10_10
http://www.nxtbook.com/sosland/mbn/2017_09_26
http://www.nxtbook.com/sosland/mbn/2017_09_12
http://www.nxtbook.com/sosland/mbn/2017_08_29
http://www.nxtbook.com/sosland/mbn/2017_08_15
http://www.nxtbook.com/sosland/mbn/2017_08_01
http://www.nxtbook.com/sosland/mbn/2017_07_18
http://www.nxtbook.com/sosland/mbn/2017_07_04
http://www.nxtbook.com/sosland/mbn/2017_06_20
http://www.nxtbook.com/sosland/mbn/2017_06_06
http://www.nxtbook.com/sosland/mbn/2017_05_23
http://www.nxtbook.com/sosland/mbn/2017_05_09
http://www.nxtbook.com/sosland/mbn/2017_04_25
http://www.nxtbook.com/sosland/mbn/2017_04_11
http://www.nxtbook.com/sosland/mbn/2017_03_28
http://www.nxtbook.com/sosland/mbn/2017_03_14
http://www.nxtbook.com/sosland/mbn/2017_02_28
http://www.nxtbook.com/sosland/mbn/2017_02_14
http://www.nxtbook.com/sosland/mbn/2017_01_31
http://www.nxtbook.com/sosland/mbn/2017_01_17
http://www.nxtbook.com/sosland/mbn/2017_01_03
http://www.nxtbook.com/sosland/mbn/2016_12_20
http://www.nxtbook.com/sosland/mbn/2016_12_06
http://www.nxtbook.com/sosland/mbn/2016_11_22
http://www.nxtbook.com/sosland/mbn/2016_11_08
http://www.nxtbook.com/sosland/mbn/2016_10_25
http://www.nxtbook.com/sosland/mbn/2016_10_11
http://www.nxtbook.com/sosland/mbn/2016_09_27
http://www.nxtbook.com/sosland/mbn/2016_09_13
http://www.nxtbook.com/sosland/mbn/2016_08_30
http://www.nxtbook.com/sosland/mbn/2016_08_16
http://www.nxtbook.com/sosland/mbn/2016_08_02
http://www.nxtbook.com/sosland/mbn/2016_07_19
http://www.nxtbook.com/sosland/mbn/2016_07_05
http://www.nxtbook.com/sosland/mbn/2016_06_21
http://www.nxtbook.com/sosland/mbn/2016_06_07
http://www.nxtbook.com/sosland/mbn/2016_05_24
http://www.nxtbook.com/sosland/mbn/2016_05_10
http://www.nxtbook.com/sosland/mbn/2016_04_26
http://www.nxtbook.com/sosland/mbn/2016_04_12
http://www.nxtbook.com/sosland/mbn/2016_03_29
http://www.nxtbook.com/sosland/mbn/2016_03_15
http://www.nxtbook.com/sosland/mbn/2016_03_01
http://www.nxtbook.com/sosland/mbn/2016_02_16
http://www.nxtbook.com/sosland/mbn/2016_02_02
http://www.nxtbook.com/sosland/mbn/2016_01_19
http://www.nxtbook.com/sosland/mbn/2016_01_05
http://www.nxtbook.com/sosland/mbn/2015_12_22
http://www.nxtbook.com/sosland/mbn/2015_12_08
http://www.nxtbook.com/sosland/mbn/2015_11_24
http://www.nxtbook.com/sosland/mbn/2015_11_10
http://www.nxtbook.com/sosland/mbn/2015_10_27
http://www.nxtbook.com/sosland/mbn/2015_10_13
http://www.nxtbook.com/sosland/mbn/2015_09_29
http://www.nxtbook.com/sosland/mbn/2015_09_15
http://www.nxtbook.com/sosland/mbn/2015_09_01
http://www.nxtbook.com/sosland/mbn/2015_08_18
http://www.nxtbook.com/sosland/mbn/2015_08_04
http://www.nxtbook.com/sosland/mbn/2015_07_21
http://www.nxtbook.com/sosland/mbn/2015_07_07
http://www.nxtbook.com/sosland/mbn/2015_06_23
http://www.nxtbook.com/sosland/mbn/2015_06_09
http://www.nxtbook.com/sosland/mbn/2015_05_26
http://www.nxtbook.com/sosland/mbn/2015_05_12
http://www.nxtbook.com/sosland/mbn/2015_04_28
http://www.nxtbook.com/sosland/mbn/2015_04_014
http://www.nxtbook.com/sosland/mbn/2015_03_31
http://www.nxtbook.com/sosland/mbn/2015_03_17
http://www.nxtbook.com/sosland/mbn/mbn/2015_03__03
http://www.nxtbook.com/sosland/mbn/2015_02_17
http://www.nxtbook.com/sosland/mbn/2015_02_03
http://www.nxtbook.com/sosland/mbn/2015_01_20
http://www.nxtbook.com/sosland/mbn/2015_01_06
http://www.nxtbook.com/sosland/mbn/2014_12_23
http://www.nxtbook.com/sosland/mbn/2014_12_09
http://www.nxtbook.com/sosland/mbn/mbn_2014_11_25
http://www.nxtbook.com/sosland/mbn/2014_11_11
http://www.nxtbook.com/sosland/mbn/2014_10_28
http://www.nxtbook.com/sosland/mbn/2014_10_14
http://www.nxtbook.com/sosland/mbn/2014_09_30
http://www.nxtbook.com/sosland/mbn/2014_09_16
http://www.nxtbook.com/sosland/mbn/2014_09_02
http://www.nxtbook.com/sosland/mbn/214_08_19
http://www.nxtbook.com/sosland/mbn/2014_08_01
http://www.nxtbook.com/sosland/mbn/2014_07_22
http://www.nxtbook.com/sosland/mbn/2014_07_08
http://www.nxtbook.com/sosland/mbn/2014_06_24
http://www.nxtbook.com/sosland/mbn/2014_06_10
http://www.nxtbook.com/sosland/mbn/2014_05_27
http://www.nxtbook.com/sosland/mbn/2014_05_13
http://www.nxtbook.com/sosland/mbn/2014_04_29
http://www.nxtbook.com/sosland/mbn/2014_04_15
http://www.nxtbook.com/sosland/mbn/2014_04_01
http://www.nxtbook.com/sosland/mbn/2014_03_18
http://www.nxtbook.com/sosland/mbn/2014_03_04
http://www.nxtbook.com/sosland/mbn/2014_02_18
http://www.nxtbook.com/sosland/mbn/2014_02_04
http://www.nxtbook.com/sosland/mbn/2014_01_21
http://www.nxtbook.com/sosland/mbn/2014_01_07
http://www.nxtbook.com/sosland/mbn/2013_12_24
http://www.nxtbook.com/sosland/mbn/2013_12_10
http://www.nxtbook.com/sosland/mbn/2013_11_26
http://www.nxtbook.com/sosland/mbn/2013_11_12
http://www.nxtbook.com/sosland/mbn/2013_10_29
http://www.nxtbook.com/sosland/mbn/2013_10_15
http://www.nxtbook.com/sosland/mbn/2013_10_01
http://www.nxtbook.com/sosland/mbn/2013_09_17
http://www.nxtbook.com/sosland/mbn/2013_09_03
http://www.nxtbook.com/sosland/mbn/2013_08_20
http://www.nxtbook.com/sosland/mbn/2013_08-06
http://www.nxtbook.com/sosland/mbn/2013_07_23
http://www.nxtbook.com/sosland/mbn/2013_07_09
http://www.nxtbook.com/sosland/mbn/2013_06_25
http://www.nxtbook.com/sosland/mbn/2013_06_11
http://www.nxtbook.com/sosland/mbn/2013_05_28
http://www.nxtbook.com/sosland/mbn/2013_05_14
http://www.nxtbook.com/sosland/mbn/2013_04_30
http://www.nxtbook.com/sosland/mbn/2013_04_16
http://www.nxtbook.com/sosland/mbn/2013_04_02
http://www.nxtbook.com/sosland/mbn/2013_03_19
http://www.nxtbook.com/sosland/mbn/2013_03_05
http://www.nxtbook.com/sosland/mbn/2013_02_19
http://www.nxtbook.com/sosland/mbn/2013_02_05
http://www.nxtbook.com/sosland/mbn/2013_01_22
http://www.nxtbook.com/sosland/mbn/2013_01_08
http://www.nxtbook.com/sosland/mbn/2012_12_25
http://www.nxtbook.com/sosland/mbn/2012_12_11
http://www.nxtbook.com/sosland/mbn/2012_11_27
http://www.nxtbook.com/sosland/mbn/2012_11_13
http://www.nxtbook.com/sosland/mbn/2012_10_30
http://www.nxtbook.com/sosland/mbn/2012_10_16
http://www.nxtbook.com/sosland/mbn/2012_10_02
http://www.nxtbook.com/sosland/mbn/2012_09_18
http://www.nxtbook.com/sosland/mbn/2012_09_04
http://www.nxtbook.com/sosland/mbn/2012_08_21
http://www.nxtbook.com/sosland/mbn/2012_08_07
http://www.nxtbook.com/sosland/mbn/2012_07_24
http://www.nxtbook.com/sosland/mbn/2012_07_10
http://www.nxtbook.com/sosland/mbn/2012_06_26
http://www.nxtbook.com/sosland/mbn/2012_06_12
http://www.nxtbook.com/sosland/mbn/2012_05_29
http://www.nxtbook.com/sosland/mbn/2012_05_15
http://www.nxtbook.com/sosland/mbn/2012_05_01
http://www.nxtbook.com/sosland/mbn/2012_04_17
http://www.nxtbook.com/sosland/mbn/2012_04_03
http://www.nxtbook.com/sosland/mbn/2012_03_20
http://www.nxtbook.com/sosland/mbn/2012_03_06
http://www.nxtbook.com/sosland/mbn/2012_02_21
http://www.nxtbook.com/sosland/mbn/2012_02_07
http://www.nxtbook.com/sosland/mbn/2012_01_24
http://www.nxtbook.com/sosland/mbn/2012_01_10
http://www.nxtbook.com/sosland/mbn/2011_12_27
http://www.nxtbook.com/sosland/mbn/2011_12_13
http://www.nxtbook.com/sosland/mbn/2011_11_29
http://www.nxtbook.com/sosland/mbn/2011_11_15
http://www.nxtbook.com/sosland/mbn/2011_11_01
http://www.nxtbook.com/sosland/mbn/2011_10_18
http://www.nxtbook.com/sosland/mbn/2011_10_04
http://www.nxtbook.com/sosland/mbn/2011_09_20
http://www.nxtbook.com/sosland/mbn/2011_09_06
http://www.nxtbook.com/sosland/mbn/2011_08_23
http://www.nxtbook.com/sosland/mbn/2011_08_09
http://www.nxtbook.com/sosland/mbn/2011_07_26
http://www.nxtbook.com/sosland/mbn/2011_07_12
http://www.nxtbook.com/sosland/mbn/2011_06_28
http://www.nxtbook.com/sosland/mbn/2011_06_14
http://www.nxtbook.com/sosland/mbn/2011_05_31
http://www.nxtbook.com/sosland/mbn/2011_05_17
http://www.nxtbook.com/sosland/mbn/2011_05_03
http://www.nxtbook.com/sosland/mbn/2011_04_19
http://www.nxtbook.com/sosland/mbn/2011_04_05
http://www.nxtbook.com/sosland/mbn/2011_03_22
http://www.nxtbook.com/sosland/mbn/2011_03_08
http://www.nxtbook.com/sosland/mbn/2011_02_22
http://www.nxtbook.com/sosland/mbn/2011_02_08
http://www.nxtbook.com/sosland/mbn/2011_01_25
http://www.nxtbook.com/sosland/mbn/2011_01_11
http://www.nxtbook.com/sosland/mbn/2010_12_28
http://www.nxtbook.com/sosland/mbn/2010_12_14
http://www.nxtbook.com/sosland/mbn/2010_11_30
http://www.nxtbook.com/sosland/mbn/2010_11_16
http://www.nxtbook.com/sosland/mbn/2010_11_02
http://www.nxtbook.com/sosland/mbn/2010_10_19
http://www.nxtbook.com/sosland/mbn/2010_10_05
http://www.nxtbook.com/sosland/mbn/2010_09_21
http://www.nxtbook.com/sosland/mbn/2010_09_07
http://www.nxtbook.com/sosland/mbn/2010_08_24
http://www.nxtbook.com/sosland/mbn/2010_08_10
http://www.nxtbook.com/sosland/mbn/2010_07_27
http://www.nxtbook.com/sosland/mbn/2010_07_13
http://www.nxtbook.com/sosland/mbn/2010_06_29
http://www.nxtbook.com/sosland/mbn/2010_06_15
http://www.nxtbook.com/sosland/mbn/2010_06_01
http://www.nxtbook.com/sosland/mbn/2010_05_18
http://www.nxtbook.com/sosland/mbn/2010_05_04
http://www.nxtbook.com/sosland/mbn/2010_04_20
http://www.nxtbook.com/sosland/mbn/2010_04_06
http://www.nxtbook.com/sosland/mbn/2010_03_23
http://www.nxtbook.com/sosland/mbn/2010_03_09
http://www.nxtbook.com/sosland/mbn/2010_02_23
http://www.nxtbook.com/sosland/mbn/2010_02_09
http://www.nxtbook.com/sosland/mbn/2010_01_26
http://www.nxtbook.com/sosland/mbn/2010_01_12
http://www.nxtbook.com/sosland/mbn/2009_12_29
http://www.nxtbook.com/sosland/mbn/2009_12_15
http://www.nxtbook.com/sosland/mbn/2009_12_01
http://www.nxtbook.com/sosland/mbn/2009_11_17
http://www.nxtbook.com/sosland/mbn/2009_11_03
http://www.nxtbook.com/sosland/mbn/2009_10_20
http://www.nxtbook.com/sosland/mbn/2009_10_06
http://www.nxtbook.com/sosland/mbn/2009_09_22
http://www.nxtbook.com/sosland/mbn/2009_09_08
http://www.nxtbook.com/sosland/mbn/2009_08_25
http://www.nxtbook.com/sosland/mbn/2009_08_11
http://www.nxtbook.com/sosland/mbn/2009_07_28
http://www.nxtbook.com/sosland/mbn/2009_07_14
http://www.nxtbook.com/sosland/mbn/2009_06_30
http://www.nxtbook.com/sosland/mbn/2009_06_16
http://www.nxtbook.com/sosland/mbn/2009_06_02
http://www.nxtbook.com/sosland/mbn/2009_05_19
http://www.nxtbook.com/sosland/mbn/2009_05_05
http://www.nxtbook.com/sosland/mbn/2009_04_21
http://www.nxtbook.com/sosland/mbn/2009_04_08
http://www.nxtbook.com/sosland/mbn/2009_04_07
http://www.nxtbook.com/sosland/mbn/2009_03_24
http://www.nxtbook.com/sosland/mbn/2009_03_10
http://www.nxtbook.com/sosland/mbn/2009_02_24
http://www.nxtbook.com/sosland/mbn/2009_02_10
http://www.nxtbook.com/sosland/mbn/2009_01_27
http://www.nxtbook.com/sosland/mbn/2009_01_13
http://www.nxtbook.com/sosland/mbn/2008_12_30
http://www.nxtbook.com/sosland/mbn/2008_12_16
http://www.nxtbook.com/sosland/mbn/2008_12_02
http://www.nxtbook.com/sosland/mbn/2008_11_18
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http://www.nxtbook.com/sosland/mbn/2008_10_21
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http://www.nxtbook.com/sosland/mbn/2008_08_26
http://www.nxtbook.com/sosland/mbn/2008_08_12
http://www.nxtbook.com/sosland/mbn/2008_07_29
http://www.nxtbook.com/sosland/mbn/2008_07_15
http://www.nxtbook.com/sosland/mbn/2008_07_01
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