(Bloomberg) -- Syngenta AG, the Swiss agrochemical maker that’s agreed to be taken over by a state-owned China National Chemical Corp., said Erik Fyrwald will take over as chief executive officer from his current post leading chemical distributor Univar Inc.
Fyrwald will replace John Ramsay, who had been CEO on an interim basis since November after the sudden departure of Mike Mack, the Basel-based company said in a statement on Wednesday. Ramsay will stay on in a supporting role when the new CEO starts on June 1, Chairman Michel Demare said in the release.
The former DuPont Co. executive will have the task of getting the $43 billion takeover of Syngenta by ChemChina, as the company is known, over the line. The Swiss company is aiming to complete the transaction by the end of the year and has said the process of getting regulatory approval remains on track.
Fyrwald spent 27 years at DuPont, becoming head of the agriculture and nutrition unit in 2003, before joining Univar four years ago.
Syngenta shares gained 0.1 percent to 385 francs as of 9:19 a.m. in Zurich, valuing the company at 35.9 billion francs ($37.6 billion).
(Updates with share price in fifth paragraph.)
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