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-   -   More turmoil at Syngenta (https://www.englishforum.ch/daily-life/296047-more-turmoil-syngenta.html)

shiretoko 08.01.2020 20:26

More turmoil at Syngenta
 
Syngenta employees were rocked on Monday when they learnt that their nominal CFO would be leaving in a matter of days, and replaced with someone with a non-finance background who was actually capable of successfully running a business and demonstrating some degree of financial acumen.

‘My main concern is what will happen to the twenty-something Eastern European female interns in finance. Who will mentor these ladies now, and pay close attention to their personal development and goal achievement?’ said one grizzled Swiss woman, laughing for the first time in years. ‘We’re also worried about the inevitable decline in sales at the pharmacy on Schwarzwaldallee’ she said sincerely.

‘We don’t know how to handle growth anymore’, said another, worried that their stock of red printer ink might be obsolete, also observing that it would be interesting to see a digital strategy based on modern technology, rather than a Little Britain character pointing its finger and yelling ‘I want that one’.

The UK government declined to comment on rumours that it would be hastily revising its citizenship rules to prevent the potential return of clapped out, vicious and mendacious narcissists, adding only that there would be numerous opportunities in vegetable and fruit picking soon.

gaburko 08.01.2020 22:12

Re: More turmoil at Syngenta
 
Quote:

Originally Posted by shiretoko (Post 3135296)
Syngenta employees were rocked on Monday when they learnt that their nominal CFO would be leaving in a matter of days...

You must have missed the really important piece of news: the company is merging with Adama under the supervision of the Chinese Communist Party to launch an IPO for a "new" company sometime in 2020. In the overall frame of things, nobody really cares about the "nominal" CFO, the "grizzled Swiss woman" or the finance interns.

shiretoko 09.01.2020 09:19

Re: More turmoil at Syngenta
 
No better way for you to show support for a management team that has failed, than to emulate its contempt for employees. Way to go, gaburko.

gaburko 09.01.2020 09:32

Re: More turmoil at Syngenta
 
Quote:

Originally Posted by shiretoko (Post 3135365)
No better way for you to show support for a management team that has failed, than to emulate its contempt for employees. Way to go, gaburko.

I am neither part of said management nor am I a shareholder so my "support" is as relevant as the "grizzled Swiss woman".
My point it is that decisions are not made in Basel, they are made in Beijing. The owner is the Chinese state and if I remember correctly, the company was bought with Chinese state funds. Naturally, they want to collect some of that money back with an IPO, so your understandable feelings in the face of possible upcoming restructuring are logical and unfortunately, irrelevant.

bigblue2 09.01.2020 09:41

Re: More turmoil at Syngenta
 
I have no idea what this thread is about lol

jacek 09.01.2020 09:47

Re: More turmoil at Syngenta
 
I am all ears :msnsarcastic:

https://englishhelponline.files.word...ox_allears.jpg

Please, provide a reference to the news, please, please :rofl:

gaburko 09.01.2020 10:34

Re: More turmoil at Syngenta
 
https://www.nytimes.com/reuters/2020...-syngenta.html

Long story short: Syngenta, an Swiss pesticide company was bought by ChemChina in 2016 for $43bn in what was the largest Chinese foreign acquisition. Chemchina also owns Adama, an Israeli pesticide company.
Now they are creating a new entity with both companies and supposedly some assets from Chemchina and Sinochem too, that will be listed in the stock exchange to recover part of the 43bn.
The background to this, to make it spicy, is that there seems to be infighting in China between ChemChina and Sinochem, which are now under one Chairman and the ChemChina one was pushed to retire.

Treverus 09.01.2020 14:33

Re: More turmoil at Syngenta
 
Quote:

Originally Posted by gaburko (Post 3135403)
Long story short: Syngenta, an Swiss pesticide company

Thats a bit too short. Syngenta does not just make pesticides, it offers seeds for all sorts of farmed crops. It is one of the largest three companies which jointly control over half of all crops in agricultural production in the world (!). So its a bit of an oligopoly with similar ethical challenges as the companies that try to privatize drinking water.

Having the Chinese state buying the intellectual property that controls what a large portion of farmers worldwide can put on their fields is… to put it mildly… a strategic interest. And just as with the other key technologies of this century are all politicians in Europe sound asleep.

gaburko 09.01.2020 14:57

Re: More turmoil at Syngenta
 
Quote:

Originally Posted by Treverus (Post 3135534)
similar ethical challenges as the companies that try to privatize drinking water.

Could be, don't know about that. But as a consumer my fruits and veggies are better and cheaper than the ones my parents had, so these companies must be doing something right

Quote:

Originally Posted by Treverus (Post 3135534)
Having the Chinese state buying the intellectual property that controls what a large portion of farmers worldwide can put on their fields is… to put it mildly… a strategic interest. And just as with the other key technologies of this century are all politicians in Europe sound asleep.

The intended IPO will change that by making them a public company again. Moreover, not sure what exactly could European politicians do or should do at all for a Swiss company that is being acquired by a Chinese one.

curley 09.01.2020 15:19

Re: More turmoil at Syngenta
 
Quote:

Originally Posted by gaburko (Post 3135540)
Could be, don't know about that. But as a consumer my fruits and veggies are better and cheaper than the ones my parents had.

I disagree.

gaburko 09.01.2020 15:25

Re: More turmoil at Syngenta
 
Quote:

Originally Posted by curley (Post 3135547)
I disagree.

You disagree about my veggies? :D

Guest 09.01.2020 15:51

Re: More turmoil at Syngenta
 
Quote:

Originally Posted by gaburko (Post 3135540)
Could be, don't know about that. But as a consumer my fruits and veggies are better and cheaper than the ones my parents had, so these companies must be doing something right.

Don't Syngenta do a lot of GM crops? Tomatoes that grow without seeds so farmers have to buy annually as their crops don't self-propogate?

gaburko 09.01.2020 15:57

Re: More turmoil at Syngenta
 
Quote:

Don't Syngenta do a lot of GM crops? Tomatoes that grow without seeds so farmers have to buy annually as their crops don't self-propogate?
Dunno. I commented that in general as a consumer I am having access to better and cheaper veggies and fruits than my parents did. As to what products Syngenta sells, check their website, but i would imagine farmers are free to chose from whom, if at all, they will buy seeds.

greenmount 09.01.2020 16:25

Re: More turmoil at Syngenta
 
Quote:

Originally Posted by shiretoko (Post 3135296)
Syngenta employees were rocked on Monday when they learnt that their nominal CFO would be leaving in a matter of days, and replaced with someone with a non-finance background who was actually capable of successfully running a business and demonstrating some degree of financial acumen.

‘My main concern is what will happen to the twenty-something Eastern European female interns in finance. Who will mentor these ladies now, and pay close attention to their personal development and goal achievement?’ said one grizzled Swiss woman, laughing for the first time in years. ‘We’re also worried about the inevitable decline in sales at the pharmacy on Schwarzwaldallee’ she said sincerely.

‘We don’t know how to handle growth anymore’, said another, worried that their stock of red printer ink might be obsolete, also observing that it would be interesting to see a digital strategy based on modern technology, rather than a Little Britain character pointing its finger and yelling ‘I want that one’.

The UK government declined to comment on rumours that it would be hastily revising its citizenship rules to prevent the potential return of clapped out, vicious and mendacious narcissists, adding only that there would be numerous opportunities in vegetable and fruit picking soon.

What's this? An article? Link? It doesn't make any sense.


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