Syngenta CEO Mike Mack stepped aside amid shareholder criticism over his refusal to engage the $47 billion Monsanto takeover proposal.
In a statement he says, "I believe that this is an appropriate time for the Company to benefit from the perspectives of a new leader."
Mack's resignation was welcomed by a shareholder group, which is lobbying for a full strategic review.
Alliance of Critical Syngenta shareholders says, “Syngenta urgently needs a leadership that recognizes the realities of the fast changing markets and draws the right conclusions.”
In the interim, Chief Financial Officer John Ramsay will hold the position of CEO.
Macks exit comes seven years into his leadership and two months after Monsanto withdrew a bid for the company, it's third in 4 years, citing a lack of cooperation from Syngenta.