St. Louis, Missouri, USA
August 12, 2009
Monsanto Company (NYSE: MON) announced today that Terry
Crews, 53, Executive Vice President and Chief Financial Officer,
will retire from the Company effective Nov. 30, 2009. Carl
Casale, 48, currently Executive Vice President of Strategy and
Operations, has been named as Crews' successor effective Sept.
1, 2009. Crews will serve as Special Assistant to the CEO
through Nov. 30, 2009.
"Terry Crews personifies the talent, drive and passion that made
Monsanto's transition to the world's leading agricultural seeds
and traits enterprise the success it is today," said Hugh Grant,
chairman, president and chief executive officer. "His
achievements have not only won him the gratitude of our
employees and shareholders, but also recognition as a
highly-regarded business leader within our organization as well
as the business and investment community. While we respect and
understand his personal desire to spend more time with his
family, he'll be greatly missed."
"I'm very proud to have been a part of the spectacular success
of Monsanto," Crews added. "This company has a bright future
with strong investments in places that can make a difference for
farmers, our people and our shareowners. After careful
consideration with my family, I've decided this is the right
time to cap my long career and ensure a successful transition as
the company embarks on its next decade of innovation."
During his 32-year career, Crews led Monsanto through several
unique transitions including Monsanto's integration of its first
seed company investments in the 1990s, its original initial
public offering and ultimate spinoff earlier this decade, as
well as the company's settlement proceedings with Solutia last
year. Crews' financial discipline is credited with supporting
Monsanto in its historic annual earnings growth path of 20
percent which enabled the St. Louis-based company to return
value to its shareowners, invest in new innovations for farmers
as well as support a number of acquisitions over the years
including Delta and Pine Land, Seminis and De Ruiter Seeds.
Casale named next Chief Financial Officer
"On behalf of Monsanto's Board of Directors and all of our
employees, I'm pleased to announce that Carl Casale will assume
the role of Chief Financial Officer for Monsanto," said Grant.
"Carl's leadership in our commercial organizations coupled with
his track-record of economic, financial and operational
excellence makes him a strong leader for our financial
organization."
Casale joined former Monsanto Company in 1984. During his
25-year tenure with Monsanto, Casale led the company's
commercial organization. He also spearheaded several key
strategic initiatives for the company including litigation
resolution efforts with major competitors, the establishment of
American Seeds, the SmartStax™ collaboration with Dow
AgroSciences, and the acquisition of Cristiani Burkhard. Most
recently, Casale led strategy and operations for the company. In
this role, he oversaw Monsanto's strategy, manufacturing and
information technology organizations.
Casale holds a B.S. degree in agricultural economics from Oregon
State University and a M.B.A. from Washington University. He
grew up on a family farm in Oregon, which still operates today,
and began his career as a sales representative in Walla Walla,
Washington. Casale maintains his hands-on involvement with
farming to this day and runs his own commercial farming
operation in his spare time.
Monsanto Company is a leading global provider of
technology-based solutions and agricultural products that
improve farm productivity and food quality. Monsanto remains
focused on enabling both small-holder and large-scale farmers to
produce more from their land while conserving more of our
world's natural resources such as water and energy.
SmartStax™ multi-event technology developed by Dow AgroSciences
and Monsanto. SmartStax is a trademark of Monsanto Technology
LLC. |
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