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| Funny, you have a total of 3 posts all of which are about Syngenta and all which happen to be extremely negative. Disgruntled employee? Anyway, everything but objective. | |
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I've worked at Syngenta for over 30 years, and am soon to be an ex-employee, along with over a thousand of my colleagues, as part of a restructuring which does not seem to have been reported anywhere, and which was denied by the CFO and Head of HR in front of several hundred employees just before it was executed. I have to say, hapmojong has described very clearly and objectively the trail of disastrous decisions at Syngenta in recent years, that have led to dramatic losses of market share, a rerating from blue chip to near-junk, incredibly low morale, and an exodus of talent and experience. It's rare to get this kind of candour and insight. Your comment, gaburko, is either that of a shill for Syngenta, or is naive to the point of ignorance. It is insulting to read this kind of shallow and flippant comment, when so many peoples' lives and livelihoods are being so badly affected.
I don't have much to add to hapmojong's posts above. My view is that reasonably competent middle managers were promoted to senior executive positions, and were found wanting when pressure mounted. This is especially true of of Mack and Ramsay. The upshot is that Syngenta can no longer control its own future, as all decisions and financing thereof are decided in Beijing, not Basel. The most likely next steps are the sale of a significant share of Syngenta to a private equity house, which will run Syngenta for cash and progressively strip assets, while Chemchina keeps the intellectual property and technology which was its original motivation for the acquisition. A return to a stable, independent blue chip company is the least likely outcome, regrettably. This is partly because the successors to Mack and Ramsay are even less capable; Erik the Unready has a vision of the industry which is 15 years out of date, and is being outpaced every day by the competition. The only question is whether he and others last till June, as Chemchina's patience has already worn thin.