At the same time, Bayer announced the executive leadership team for the new Crop Science division, which also takes effect when the acquisition closes, still expected in the second quarter.
“It has been my sincere privilege to serve as Monsanto’s CEO during this period of extraordinary growth and transformation within our business,” Grant said. “I’m proud of what we’ve delivered and look forward to what the future holds for this organization.”
Grant worked in agriculture his entire career, beginning with a part-time job in college in Scotland, to leading Monsanto as chairman and CEO since 2003. Over his 35-year tenure with the company, he has worked for Monsanto on three continents, managing key elements of the global business and helping to diversify the company’s products and solutions for growers.
“While I have made the decision to pursue new opportunities following the closing of the transaction, I will continue to be an advocate for agriculture and look forward to always being a voice in the conversation,” Grant said.
Several members of the Monsanto executive team also announced they will be departing shortly after closing, including: Pierre Courduroux, chief financial officer; Robert Fraley, chief technology officer; Janet Holloway, chief of staff and community relations; Steven Mizell, chief human resources officer; Kerry Preete, chief strategy officer; Nicole Ringenberg, controller; and David Snively, secretary and general counsel.
Bayer said the new executive leadership 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 in Monheim, Germany. He is also responsible for Bayer’s Animal Health business unit.
“Liam Condon brings over 25 years of experience in leading and growing businesses in the agriculture and health industries,” said Werner Wenning, chairman of the supervisory board of Bayer. “We are convinced that he will successfully lead the combined Crop Science business.”
The executive leadership team will have integrated responsibility for the combined business activities of Bayer’s Crop Science Division and Monsanto following the closing of the acquisition. Members include:
• Brett Begemann, head of commercial operations. He is currently chief operating officer at Monsanto, and will be based in St. Louis, Missouri, U.S.
• Dr. Michael Stern, head of digital farming/climate corporation. He is currently CEO of Monsanto’s Climate Corporation. He will be based in St. Louis.
• Dr. Robert Reiter, head of research and development. He is the current technology integration planning lead at Monsanto. He will be based in Monheim.
• Frank Terhorst, head of crop strategy and portfolio management. Currently, he is responsible for pre-merger planning within Bayer’s Crop Science Division. He will be based in St. Louis.
• Dr. Dirk Backhaus, head of product supply. He currently has the same position within Bayer’s Crop Science Division. He will be based in Monheim.
• Jesus Madrazo, head of agricultural affairs and sustainability. Currently, he is responsible for global supply chain and commercial operations at Monsanto. He will be based in Monheim.
• James Swanson, crop science chief information officer and head of IT/ digital transformation. He currently serves as CIO at Monsanto. He will be based in Monheim.
• Gabriele Oehlschlaeger, head of human resources. Currently, she is responsible for talent management at Bayer. She will be based in Monheim.
• Michael Schulz, CFO of Crop Science and head of finance. He is currently responsible for finance for Bayer’s Crop Science Division and will be based in St. Louis.
• Dr. Lars Benecke, head of law, patents and compliance. He currently has the same position within Bayer’s Crop Science Division and will be based in Monheim.
• Martin Dawkins, head of post-merger integration. Currently, he has the same position within Bayer’s Crop Science Division. Dawkins will be based in Monheim.The appointments will only become effective with the closing of Bayer’s acquisition of Monsanto which depends on receipt of the required regulatory approvals. Until that date, both companies will continue to operate as competitors under their current structures.