US-based agricultural group Monsanto has announced that it has appointed David Chicoine, president of South Dakota State University, to its board of directors.
The appointment, which is effective immediately, brings the number of board members to 11, with Mr Chicoine serving on the public policy and corporate responsibility and science and technology committees.
'On behalf of Monsanto, I am pleased to announce the appointment of David Chicoine as an independent director to our board,' said Hugh Grant, chairman of the board at Monsanto. 'David has more than 30 years experience in higher education and is a recognised agricultural economist. We believe that his background and insight will serve Monsanto shareowners well by bringing another valuable perspective to our business and out board.'
The move comes in the same month that the company reported record net sales forthe second-quarter and first half of fiscal year 2009, up to US$4.03bn(up 8 per cent) and US$6.68bn (up 16 per cent) respectively comparedwith the previous year.
These increases helped drive profit growth of 14 per cent to US$2.5bnin the second quarter, while first-half profit jumped 25 per cent toUS$4bn.
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