Oslo, 21 March 2018: Yara International ASA announces organizational and management changes with immediate effect.
"Yara has developed well despite challenging market conditions, improving our internal operations and strengthening our platform for further growth. It is now time to simplify our organization, to be even more agile and responsive in a time marked by both big challenges and immense opportunities" said Svein Tore Holsether, President and Chief Executive Officer of Yara.
Today Yara announces the following changes to Yara's organization structure and corporate management:
Petter Østbø will take up the position of EVP and Chief Financial Officer (CFO). Østbø currently serves as EVP Production. Torgeir Kvidal will take up the position of Head of Mining operations, reporting to EVP Production.
Tove Andersen will take up the position of EVP Production. Andersen currently serves as EVP Supply Chain. Pablo Barrera Lopez, currently Country Manager Yara Chile, will take up the position of EVP Supply Chain.
Corporate Innovation will be moved to Industrial and report to EVP Industrial, Yves Bonte. Consequently, Pierre Herben will no longer be part of the executive management team.
Alvin Rosvoll will continue to be responsible for our partner operations and will from now on report to EVP People & Global Functions, Lene Trollnes.
The above changes will take effect immediately, except for Tove Andersen and Pablo Barrera Lopez who will take up their new positions on 1 April. Petter Østbø will continue as EVP Production until 1 April, in addition to his new role as CFO.
Following these changes, the executive management team of Yara International ASA will be as follows:
Svein Tore Holsether, President and CEO
Tove Andersen, EVP Production
Yves Bonte, EVP Industrial
Lair Hanzen, EVP Yara Brazil
Pablo Barrera Lopez, EVP Supply Chain
Terje Knutsen, EVP Crop Nutrition
Kristine Ryssdal, EVP General Counsel
Terje M. Tollefsen, EVP Strategy & Business Development
Lene Trollnes, EVP People & Global Functions
Petter Østbø, EVP Chief Financial Officer
"The changes we make today will strengthen our ability to deliver on our strategy - meeting global challenges with value-creating business opportunities. I would like to express my gratitude to the colleagues who now leave the management team for their considerable efforts and dedication to Yara," said Svein Tore Holsether.
For further information, please contact:
Thor Giæver, Investor Relations
Telephone: (+47) 24 15 72 95
Mobile: (+47) 48 07 53 56
Kristin Nordal, Corporate Communications
Mobile: (+47) 900 15 550
In collaboration with customers and partners, Yara grows knowledge to responsibly feed the world and protect the planet, to fulfil its vision of a collaborative society, a world without hunger and a planet respected.
Our crop nutrition solutions and precision farming offerings allow farmers to increase yields and improve product quality while reducing environmental impact. Our environmental and industrial solutions improve air quality and reduce emissions, and are key ingredients in the production of a wide range of products. We foster an open culture of diversity and inclusion that promotes the safety and integrity of our employees, contractors, business partners, and society at large.
Founded in 1905 to solve emerging famine in Europe, Yara has a worldwide presence with more than 16,000 employees and operations in over 60 countries. In 2017, Yara reported revenues of USD 11.4 billion.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.