In 2017, the Swiss agricultural technology company Syngenta was acquired by the Chinese state-owned group ChemChina.
Keystone / Georgios Kefalas
The Swiss agrochemical company Syngenta Group is getting a new chief executive. The Board of Directors unanimously appointed Hengde Qin as the new Chief Executive Officer (CEO) starting August 1, the Basel-based company announced on Wednesday.
The current Chief Operating Officer (COO) and head of the seeds division will succeed Jeff Rowe. Rowe will hand over the reins on August 1 after almost ten years with the company. He is planning to return to the US.
According to a report from Reuters, people familiar with the situation indicated that the company, which is owned by the Chinese state-owned group Sinochem, is preparing for an initial public offering in Hong Kong. Stock exchange rules stipulate that following a change of leadership, a 60-day period must elapse before the prospectus for the listing can be submitted.
Nevertheless, according to the person familiar with the situation, the IPO could still take place around the end of the year. Syngenta is sticking to its listing plans.
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Qin has been part of Syngenta’s management team since 2020. Fanrong Li, Chairman of the Board of Directors, stated that Qin brings extensive experience in operations, finance
and the commercial sector. He added that Rowe had also resolutely steered the company through one of the most challenging periods for agriculture.
Translated from German, sub-edited by jdp
