Monsanto CFO and Executive VP To Retire

Posted by Matt Hopkins|2 September 2009

St. Louis, Missouri, US-based Monsanto Executive Vice President and Chief Financial Officer Terry Crews will retire from the company effective
Nov. 30, 2009. He will be succeeded by current Executive Vice President of Strategy and Operations Carl Casale, effective Sept. 1, 2009. Crews, who worked for 32 years with Monsanto, will serve as Special Assistant to the CEO through Nov. 30, 2009.

“Terry Crews personifies the talent, drive and passion that made Monsanto’s transition to the world’s leading agricultural seeds and traits enterprise the success it is today,” said Hugh Grant, chairman, president and chief executive officer. “His achievements have not only won him the gratitude of our employees and shareholders, but also recognition as a highly-regarded business leader within our organization as well as the business and investment community. While we respect and understand his personal desire to spend more time with his family, he’ll be greatly missed.”

Crews led Monsanto through several unique transitions including Monsanto’s integration of its first seed company investments in the 1990s, its original initial public offering and ultimate spinoff earlier this decade, as well as the company’s settlement proceedings with Solutia last year. Crews’ financial discipline is
credited with supporting Monsanto in its historic annual earnings growth path of 20% which enabled the company to return value to its shareowners, invest in new innovations for farmers as well as support a number of acquisitions over the years including Delta and Pine Land, Seminis and De Ruiter Seeds.

“I’m very proud to have been a part of the spectacular success of Monsanto,” Crews said. “This company has a bright future with strong investments in places that can make a difference for farmers, our people and our shareowners. After careful consideration with my family, I’ve decided this is the right time to cap my long career and ensure a successful transition as the company embarks on its next decade of innovation.”