Israel Chemicals CEO Up for Syngenta Spot

Israel Chemicals Chief Executive Stefan Borgas is a leading candidate to take the top job at Swiss agrochemicals group Syngenta, according to Israeli media reports.

Syngenta’s CEO Mike Mack stepped down in October two months after the company rejected a takeover approach from U.S. rival Monsanto. He was replaced on an interim basis by the company’s chief financial officer, John Ramsay.

German-born Borgas has been a member of Syngenta’s board since 2009. Before joining ICL in 2012, he was CEO of Lonza Group.

“There is no change in the role and status of Stefan Borgas,” an ICL spokeswoman said. She also said ICL would not comment on media speculation.

Syngenta was not immediately available to comment.

Last month, ChemChina agreed to buy Syngenta for $43 billion. Syngenta has said after the ChemChina deal that future leadership appointments would be made in close coordination with the new owners.

Earlier this month ICL, one of the three largest suppliers of the crop nutrient potash to China, India and Europe, said its chairman, Nir Gilad, would step down in September after nine years in office.