Airport City, Israel, February 2, 2014
ADAMA Agricultural Solutions Ltd. (“ADAMA”), a leading global provider of crop protection solutions, today announced that its board of directors has appointed Chen Lichtenstein as its new President and Chief Executive Officer, effective February 7, 2014. Yang Xingqiang, the Company’s Chairman of the Board said: “The appointment of Chen as CEO comes as ADAMA continues its growth from a leader in off-patent agrochemical products to becoming a global company that simplifies the life of farmers. Chen is uniquely qualified to lead ADAMA through its next phase of growth, having been a key member of the close-knit team that directed the Company’s business transformation over the past several years".
Chen has demonstrated outstanding leadership as President and CEO of CNAC – ADAMA’s parent company – displaying exceptional management of the integration process between the two companies. This, together with his vast experience heading the global operations and corporate development activities at ADAMA, make him the ideal candidate to lead our organization. In his new role, Chen will also leverage his extensive familiarity of global capital markets as we prepare for IPO. "I am confident that Chen will bring to bear his exceptional executive and transformation capabilities, which will advance ADAMA’s strong growth trajectory.” “I am happy with what ADAMA has been able to accomplish in the past several years, and am grateful for having the opportunity to lead this remarkable Group,” Lichtenstein said. “2014 will be an important year for our organization as we roll out our new global brand, and increase the integration of our business with ChemChina. I look forward to working closely with ADAMA's excellent management team and professional and determined employees building on our strong foundation to make the most of the exciting opportunities we have.”
Lichtenstein joined ADAMA in 2006 and most recently served as its Deputy CEO in charge of China Integration, as well as President and CEO of ChemChina's strategic business division – China National Agrochemical Corporation ("CNAC"). Prior to that, Lichtenstein established and ran the Company’s Global Resources Division, integrating all global operations including manufacturing, supply chain, procurement and R&D. Earlier in his career he headed ADAMA's corporate development and capital markets activities.
Before joining ADAMA Lichtenstein served as Executive Director of Investment Banking at Goldman Sachs in New York and London. He holds joint doctoral degrees from Stanford University's Graduate School of Business and School of Law, and B.Sc. (Physics) and LL.B. from the Hebrew University of Jerusalem.
About ADAMA Agricultural Solutions
ADAMA Agricultural Solutions Ltd., formerly known as Makhteshim Agan Industries, is a leading global manufacturer and distributor of crop-protection solutions, and the leading off-patent provider. The Group supplies efficient solutions to farmers across the full farming value-chain, including crop-protection, novel agricultural technologies, and complementary non-crop businesses. In 2012, the Company’s revenues were over $2.83 billion, and it is ranked seventh in the world in the overall agro-chemicals industry. The Company is characterized by its innovation, farmer-centric approach to product development, and strict standards of environmental protection and quality control. For more information, visit us at www.ma-industries.com.