Monsanto CEO Hugh Grant and Chief Technology Officer Rob Fraley will leave the company following the Bayer takeover.
Monsanto announced Monday that Fraley and Grant will not be a part of the merged Bayer-Monsanto, once the deal is complete. The two are joined by six others from Monsanto’s leadership team that will depart the company.
In a separate announcement, Bayer announced the combined company will be led by Liam Condon, who serves as a member of Bayer’s Board of Management and as President of the Bayer Crop Science Division. The merged company leadership team includes a mixture of Bayer and Monsanto employees. Bayer notes that the appointments will only become effective with the closing of Bayer’s acquisition of Monsanto, which depends on required regulatory approvals. Until that date, both companies will continue to operate as competitors under their current structures.
From the National Association of Farm Broadcasting News Service.