Yara simplifies operating model
Oslo, 11 December 2018: In line with its previously communicated crop nutrition focused strategy, Yara is simplifying its operating model to strengthen customer focus and drive value creation. The members of Yara Executive Management remain the same following these changes.
"Earlier this year, we set out our strategy as the crop nutrition company for the future, and we are now adapting and simplifying our operating model accordingly. Following a period of substantial investments, our main focus going forward will be on operational excellence, innovation and growing scalable crop nutrition solutions," says Svein Tore Holsether, President & CEO of Yara International ASA.
Yara's activities will be structured within three segments, effective 1 January 2019:
The Sales & Marketing segment will be led by EVP Sales & Marketing Terje Knutsen. The segment will comprise all of Yara's existing Crop Nutrition business units, in addition to the following business units which are transferred from the former Industrial segment:
- Base Chemicals
- Industry Reagents
- Animal Nutrition (excluding South Africa)
The Production segment is unchanged, and will continue to be led by EVP Production Tove Andersen.
The New Business segment will be led by EVP New Business Yves Bonte. The segment will comprise the following units:
- Two businesses which will be established to commercialize innovation within decarbonization and circular economy, in collaboration with the other Yara segments
- A separate business unit for autonomous logistics operations including the Yara Birkeland autonomous electric ship project
- A portfolio of businesses which will be operated more independently with distinct strategies:
- Environmental Solutions
- Mining Applications
- Animal Nutrition South Africa
- Industrial Nitrates
As previously communicated, Yara will continue to actively manage its portfolio of businesses. Yara is currently undertaking a process to evaluate strategic options for the Environmental Solutions business.
"Our crop nutrition focused strategy naturally also includes a strategic evaluation of businesses that are further away from Yara's core, to determine the most value-creating way forward for these, either within or outside Yara," says Svein Tore Holsether, President & CEO of Yara International ASA.
Thor Giæver, Investor Relations
Mobile: (+47) 48 07 53 56
Kristin Nordal, Media Relations
Mobile: (+47) 90 01 55 50
In collaboration with customers and partners, Yara grows knowledge to responsibly feed the world and protect the planet, to fulfill 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 17,000 employees and operations in over 60 countries. In 2017, Yara reported revenues of USD 11.4 billion.