Bayer today announced the selection of the executive leadership team for the crop science division, which will go into effect as of the closing of Bayer’s planned acquisition of Monsanto. The closing is still subject to regulatory approvals. Bayer and Monsanto expect to close the transaction in the second quarter of 2018.
The executive team will be led by Liam Condon, who continues to serve as a member of Bayer’s board of management and as president of the crop science division headquartered at Monheim, Germany. He is also responsible for Bayer’s animal health business.
“Liam Condon brings over 25 years of experience in leading and growing businesses in the agriculture and health industries. We are convinced that he will successfully lead the combined crop science business,” said Werner Wenning, chairman of the supervisory board of Bayer. Monsanto chairman and CEO Hugh Grant announced today his intention to leave Monsanto at the close of the deal.
Bayer also announced the composition of the executive leadership team, which will have integrated responsibility for the combined business activities of Bayer’s crop science division and Monsanto following the closing of the acquisition. Brett Begemann, currently chief operating officer (COO) at Monsanto, will become COO. Michael Schulz will be CFO and head of finance. He is currently responsible for finance for Bayer’s crop science division.
Michael Stern will become head of digital farming/Climate Corporation. He currently serves as the CEO of Monsanto’s Climate Corporation. Robert Reiter will be head of R&D. He is the current technology integration planning lead at Monsanto. Frank Terhorst will become head of crop strategy and portfolio management. Currently, he is responsible for pre-merger planning within Bayer’s crop science division. Dirk Backhaus will serve as the head of product supply. He currently holds the same position within Bayer crop science. Jesus Madrazo will become head of agricultural affairs and sustainability. Currently, he is responsible for global supply chain and commercial operations at Monsanto. Martin Dawkins will become head of post-merger integration. Currently, he is responsible for post-merger integration within Bayer crop science.
In addition to Grant, several other members of the Monsanto executive team also announced they will be depart shortly after deal closing. They include CFO Pierre Courduroux; chief technology officer Robert Fraley; chief of staff and community relations Janet Holloway; chief human resources officer Steven Mizell; chief strategy officer Kerry Preete; controller Nicole Ringenberg; and secretary and general counsel David Snively
“The selection of the new executive leadership team represents the culmination of a very thoughtful and systematic process to identify and recruit the most capable leaders who can best work together as a high-performing team,” said Condon.
By Natasha Alperowicz
Source: Chemical Week
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