The board of agricultural biotechnology company Monsanto last night [Thursday] elected Hugh Grant, 45, as president and chief executive officer of the company, effective immediately.

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Grant, a 22-year veteran of Monsanto, has served as the company’s chief operating officer for the past three years.

Monsanto also reconfirmed its full-year 2003 earnings per share guidance in the range of US$1.25 to $1.40, and its second-quarter 2003 EPS guidance in the range of $0.91 to $1.05. The full-year EPS guidance excludes a 5-cent per share cumulative effect of adopting an asset retirement obligations accounting standard.

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