Monsanto CEO Hugh Grant Plans To Step Down Upon Closing Of Bayer Deal

(RTTNews) - Monsanto Co. (MON) Chairman and Chief Executive Officer Hugh Grant announced his intent to leave Monsanto at the closing of the acquisition of Monsanto by Bayer AG. Bayer continues to target closing in the second calendar quarter of 2018.

In addition, several members of the Monsanto Executive Team also announced they will be departing shortly after closing. Each will stay with the company for a period of time following closing to help support a successful transition with Bayer. Executive Team members departing after closing include: Chief Financial Officer Pierre Courduroux, Chief Technology Officer Dr. 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.

Current Monsanto executives who will transition to become members of the Crop Science Executive Leadership Team at Bayer once the deal is closed include Monsanto President and Chief Operating Officer Brett Begemann, Climate Chief Executive Officer Dr. Michael Stern, Monsanto Chief Information Officer James Swanson, Monsanto Technology Integration Lead Dr. Robert Reiter and Monsanto Global Supply Chain and Commercial Operations Lead Jesus Madrazo.