Tuesday, November 9, 2021

Bayer’s crop-science chief quitting

Germany's Bayer said on Tuesday that Liam Condon, the head of its crop science unit which includes Monsanto, would quit at the end of the year following disappointing results.

Rodrigo Santos, the Crop Science Division's chief operating officer, will take over on Jan. 1.


The crop science division has underperformed in recent years as Condon led it through tumultuous times, including the $63 billion takeover of U.S. seeds giant Monsanto. 


That, however, brought multi-billion-dollar lawsuits by people who claimed Monsanto’s Roundup herbicide caused cancer.


Bayer last year fell behind its closest rival Corteva in the U.S. market in a race to launch new soy seeds that resist certain weedkillers. Crop science earnings in the second quarter of this year were burdened by rising raw material costs.


Trying to contain the litigation over herbicide Roundup, Bayer in August filed a petition with the U.S. Supreme Court to reverse an appeals court verdict that upheld multi-million-dollar damages to a customer blaming his cancer on the glyphosate-based weedkiller.


Chairman Norbert Winkeljohann, in the company's statement, thanked Condon for having "successfully led and strategically transformed the Crop Science Division," but Bayer gave no further reasons for his departure.