Agri-chemical major UPL Ltd Thursday announced new appointments in leadership positions post its recent big-ticket acquisition of US-based Arysta Life Science Inc for USD 4.2 billion (around Rs 29,700 crore) in an all-cash deal.
The appointments will be effective after the completion of the proposed transaction, which is subject to obtaining various regulatory approvals and the satisfaction of other customary closing conditions, it said in a statement.
The new executive team will be led by Jai Shroff, currently the Global CEO of UPL Ltd.
Vikram Shroff will continue as executive director of UPL Ltd, which is one of the fastest growing agri-input companies in world with strong presence in the seeds, plant nutrition, crop protection and post-harvest food preservation value chains.
"Diego Casanello, currently president of Arysta LifeScience, will take over as the COO for the crop protection business for new UPL. Ajit Premnath, currently, the COO of the crop protection business at UPL, will assume the position of business mentor, Crop Protection," the statement said.
After completion of this acquisition, UPL will become the world's fifth-largest crop-protection company from the current ninth position. Its combined revenue will jump to USD 5 billion (around Rs 35,400 crore).
UPL has operations in 133 countries with 33 manufacturing facilities in 11 nations.
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