Shares of UPL Ltd ended at Rs 758.20, down by Rs 10.70, or 1.39 percent on the BSE.
Agro-chemical firm UPL Ltd on Thursday said its Board of Directors has promoted Mike Frank as the chief executive officer (CEO) of UPL's Global Crop Protection (CP) business that manages all CP assets outside of India.
Mike will be a member of the UPL Crop Protection Board of Directors. Mike joined UPL in early 2022 as president and chief operating officer of UPL's crop protection business based out of its London headquarters and has played a significant role in driving sustainable solutions in global food value chain networks to advance its OpenAg purpose.
Prior to that, he was the executive vice president and CEO of Nutrien Ag Solutions at Nutrien from 2017 to 2021. Mike started his career with Monsanto as a sales representative in Saskatchewan, Canada.
During his 25 years at Monsanto, he served in multiple roles including Global Head of Manufacturing and Supply Chain, Head of Global Chemistry and President of Monsanto China. His last role at Monsanto was senior vice president and chief commercial officer.
Mike serves on the board of Ag Growth International and is a member of the audit committee and the human resources committee. He holds an MBA from Kellogg Graduate School of Management, Northwestern University, and has a degree in agricultural engineering from the University of Saskatchewan.
Jai Shroff, Group CEO of UPL and Chairman of UPL Corporation, said, "As we continue to realign our businesses and strengthen our advancement to lead the pureplay crop protection market, we have been taking a more focused approach to our structure.
"Mike Frank was the natural choice to lead this transition, bringing extensive experience leading global agriculture companies, deep knowledge of innovative and digital technologies, and a proven track record of superior value creation for all stakeholders.
Mike has already demonstrated an impressive leadership style, entrepreneurial mindset, and a strong commitment to strengthening organisational culture," he said.
Mike Frank said UPL has been ranked as the number one company in sustainability in the crop protection industry by Sustainalytics for the last two years and is now set to take the next big step forward.
"I am convinced we have the most agile and performance-oriented culture to execute a transformational strategy across the globe, and to further our mission to Reimagine Sustainability for farmers and food systems alike. Since joining the business, I have seen first-hand the impact UPL is having for farming communities in each of our regions and the strength of our ever-growing offering," he said.