ChemChina and Sinochem consolidate their agricultural assets to form new holding company, Syngenta Group

ChemChina and Sinochem consolidate their agricultural assets to form Syngenta Group

(PRESS RELEASE) BASEL, 6-Jan-2020 — /EuropaWire/ — ChemChina and Sinochem announce the creation of Syngenta Group. The new holding company is the consolidation of both companies’ agricultural assets.

Mark Patrick, Chief Financial Officer (CFO) and member of the Syngenta Executive Team since 2016, will be leaving the company at the end of January 2020. Mark has been with Syngenta and AstraZeneca for 26 years. He played a key role during the ChemChina acquisition of Syngenta and subsequent financing arrangements. Mark was also responsible for the establishment of Syngenta’s Digital strategy and transforming the Finance function. He held several finance leadership roles across the business, working and living in both developed and emerging markets during his career.

The newly formed Syngenta Group will nominate Chen Lichtenstein, current President and CEO of ADAMA, as CFO. Chen will be based in Basel, Switzerland.

Chen has been with ADAMA for 14 years, leading the company’s corporate development and capital market activities, followed by running the company’s Global Operations. Before being appointed ADAMA CEO in 2014, Chen had held various key roles, including Deputy CEO in charge of China Integration, and President and CEO of ChemChina’s strategic business division – China National Agrochemical Corporation (CNAC), Syngenta Group’s parent company, leading the company to continuous strong performance and market share gains over the past 6 years. ADAMA successfully combined with a publicly traded company during these years and is now listed on the Shenzhen Stock Exchange.

Chen also served as Executive Director of Investment Banking at Goldman Sachs in New York and London before joining ADAMA. He holds joint doctoral degrees from Stanford University’s Graduate School of Business and School of Law, and B.Sc. (Physics) and LL.B. from the Hebrew University of Jerusalem.

“I would like to thank Mark for his strong leadership and for his many outstanding contributions to Syngenta. During his time as CFO, he has transformed the Finance function of the organization, and played a crucial role during the ChemChina acquisition of Syngenta, and more recently, in the lead up to the establishment of the new Syngenta Group. I wish him every success for the future.

“I look forward to working with Chen as we form the Syngenta Group, and am confident that his broad experience and strategic thinking will further enhance our industry positioning and ability to deliver even greater value for farmers,” said Syngenta Group CEO Erik Fyrwald.

About Syngenta

Syngenta AG is a global company that produces agrochemicals and seeds and is based in Basel, Switzerland. It was formed in 13 November 2000 by the merger of Novartis Agribusiness and Zeneca Agrochemicals. As a biotechnology company, it conducts genomic research. The company employs 28,000 people in more than 90 countries, working to transform how crops are grown. Through partnerships, collaboration and The Good Growth Plan, Syngenta is committed to improving farm productivity, rescuing land from degradation, enhancing biodiversity and revitalizing rural communities.

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SOURCE: Syngenta


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