Zurich (Reuters) – Syngenta, a Swiss company that makes seeds and pesticides and is planning a $10 billion initial public offering (IPO), announced on Friday that its biggest business will have a new leader.
Jeff Rowe, who is currently President of Global Seeds, will lead Syngenta Crop Protection starting July 1. Jon Parr, who has worked for the company for 35 years, is leaving and will be replaced by the 49-year-old American.
With this job, Rowe would be in charge of Syngenta’s biggest division, which made up almost half of the company’s $28.2 billion in sales in 2021. This could make him the front-runner to replace CEO Erik Fyrwald, who is 62 years old.
Since joining Syngenta in 2016, Rowe has helped the seed business grow quickly and make money again, the company said.
Rowe will be replaced as head of global seeds at Syngenta by Justin Wolfe, who is the regional director for the North American seeds business. Syngenta competes with U.S. company Corteva (NYSE: CTVA) and Germany’s BASF and Bayer (OTC: BAYRY).
In 2017, ChemChina paid $43 billion for Syngenta. Last year, ChemChina was merged into Sinochem Holdings Corp. After the flotation, which the parent company hopes to finish by the end of the year, it plans to keep a majority stake.