Makhteshim Agan's CEO resigns

Makhteshim Agan recently announced that its Board has launched a search process to identify a permanent CEO. The Board took these actions in the wake of Mr. Erez Vigodman’s decision to resign his position as Makhteshim Agan’s CEO and join Teva Pharmaceuticals as its President and CEO.  The Board of Directors and Mr. Vigodman agreed that he will continue to serve in his position until early February 2014, by which time a replacement will be named.

Mr. Yang Xingqiang, Makhteshim Agan’s Chairman of the Board, said:  “On behalf of the Board, I would like to extend our deep appreciation to Erez for his years of dedicated service to the Company. Under his direction, MAI’s senior management team successfully strengthened the organizational culture and reinforced its employee sense of pride. The team implemented a strategic and operational transformation, which contributed to financial growth and improvement, and enhanced the company's competitive position.

Mr. Yang Xingqiang commented: "In his tenure, MAI completed the merger with ChemChina, created a stronger operating platform, solidified R&D capabilities, successfully broadened, and differentiated its product portfolio.  Thanks in large measure to his strong leadership and personal spirit, MAI today is positioned for continued success with a well-articulated strategic vision, a strong senior management team, and an inspired employee base.  We wish him much success in his new position at Teva.The Board is committed to the continued growth and success of MAI and expects to name a replacement as soon as possible.”

Mr. Erez Vigodman, President and CEO of Makhteshim Agan, commented:  “I am grateful for having had the opportunity to work with MAI’s thousands of talented and passionate employees worldwide and extraordinary management team.  Together, we have worked to build a remarkable, industry-leading company of which we can all be extremely proud. MAI's unique values and culture truly stand out and make this organization special.”