Monsanto.(AT CLOSING NEWS)

Monsanto is creating a separate division for its Roundup and other herbicides business which is expected to enable the company to better align spending and working capital needs.

Kerry Preete is been named to head the new business unit.

Glen Stith is named lead for its North and Latin America group.

The company's CEO Hugh Grant says, "Over the last six years, Monsanto's business has undergone a dramatic transition from a company historically built on chemical innovations to one focused on delivering enhanced seed offerings that help farmers get more out of each acre of farmland while reducing the footprint of the inputs used on that land. These actions will allow our company to better navigate in today's changing business environment and keep the company on a clear path for growth."

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