It was recently announced that Monsanto chairman and CEO Hugh Grant, who has served as their top executive since 2003, will maintain his position as chairman and CEO until the company is acquired by Bayer AG and then, he will be out. Also leaving will be Monsanto CFO Pierre Courduroux, the company’s top tech executive, Chief Technology Officer Robert Fraley, and General Counsel David Snively. 1
Bayer’s $62.5 billion bid to buy the Big Ag company is expected to win U.S. antitrust approval by the end of this month. The sale should then be finalized in the second quarter.
“A recent proxy statement values Grant’s golden parachute — the amount he could collect if he leaves Monsanto after a takeover — at $32.6 million. That includes $13.6 million in cash severance and nearly $19 million worth of unvested stock and options.”2
While many in the business feel Monsanto’s technology has “transformed farming around the world,” many see it for exactly what it is: a dangerous game being played with people, animals, and the environment.
It almost feels like a crime that Grant will walk away from his job with that much money given the fact that he’s been part of the serious destruction of our environment and global health.