Syngenta CEO Quits

Posted by Jackie Pucci|21 October 2015

Syngenta Chief Executive Officer Mike Mack has resigned in the wake of the company’s rejection of a takeover bid by Monsanto.

Mack will step down at the end of October. John Ramsay, chief financial officer, is appointed CEO ad interim until the appointment of a new CEO.

Michel Demaré, Chairman of Syngenta, said: “On behalf of the Board, I should like to thank Mike for his very significant contribution to Syngenta. Under his strong strategic and operational leadership Syngenta developed and implemented its innovative integrated strategy and the commitments behind The Good Growth Plan. His R&D investment strategy has enabled the company to strengthen its leadership and the rich pipeline in crop protection, seeds and traits will continue to produce results in the decade to come.”

Mack said: “I believe that this is an appropriate time for the company to benefit from the perspectives of a new leader. I would like to express my appreciation to colleagues, customers and the many partners around the world with whom I have worked over the past 14 years. Syngenta is a great company with outstanding prospects as the only truly integrated global player in the industry. While the current market conditions are challenging, I am confident that the strength of the company’s products, promising pipeline and talented people will deliver significant value in the years ahead. I wish John every success in his new role and am sure he will make a major contribution.”