On May 19 Intrepid Potash Inc. announced several management changes, all of which were effective immediately. Robert Jornayvaz III has become executive chairman of the board and has transitioned from his role as CEO. David Honeyfield, executive vice president, CFO, treasurer, and secretary, has been promoted to president and will continue to serve as CFO and treasurer. Hugh Harvey Jr., chief technology officer and a member of the board of directors, has become executive vice chairman of the board and has transitioned from his role as chief technology officer.
Jornayvaz and Harvey remain Intrepid’s largest stockholders, with each owning approximately 20 percent of the issued and outstanding common stock of Intrepid.
As executive chairman of the board, a newly created position, Jornayvaz will continue to be Intrepid’s principal executive officer, but will turn over certain day-to-day duties to Honeyfield as president. Intrepid says this transition of duties will permit Jornayvaz to focus on strategic matters for Intrepid, especially matters relating to long-term corporate growth opportunities, sales and marketing, mineral leasing, and government affairs. Jornayvaz will continue to represent Intrepid in connection with Intrepid’s involvement with industry trade organizations.
As president, Honeyfield will report directly to Jornayvaz and will, among other things, be responsible for day-to-day business operations and the execution of capital investment projects. In addition, Honeyfield will continue to have his same responsibilities as CFO and treasurer.
As executive vice chairman of the board, a newly created position, Harvey will advise and collaborate with management on various matters relating to the operations and technology of Intrepid. With the recent hiring of John Mansanti, vice president of operations, the day-to-day operations and technical implementation of the capital investment program have been transferred to Mansanti.
Jornayvaz and Harvey will continue to be employees of Intrepid and will continue to work out of Intrepid’s headquarters in Denver, Colo.
“The management changes announced today reflect the natural evolution of Intrepid and the strength of the senior management team that we have hired and developed over the last several years,” said Jornayvaz. “Intrepid is at a point in its development where the successful execution of strategic capital projects is the most important part of our organic growth strategy. With the planned implementation of our Langbeinite Recovery Improvement Project, the planned development of the HB Mine as a solar solution mine, and our numerous other capital projects, Intrepid is poised to increase recoveries and production, which we expect to lower our per ton operating costs. Dave Honeyfield has demonstrated through his leadership and management skills that he is the right person to execute our well-defined strategic plan. Moreover, Dave’s 20 years of professional experience working with companies operating in extractive industries gives him the right background to be successful as president of Intrepid. Together with the other members of our management team in Denver, Carlsbad, Moab, and Wendover, I am confident in Dave’s ability to lead the day-to-day operations at Intrepid and to successfully execute on our strategic capital projects.”
Intrepid is the largest producer of potash in the U.S. and is dedicated to the production and marketing of potash and TrioTM, a product produced from langbeinite ore. Intrepid owns five active potash production facilities – three in New Mexico and two in Utah.
The Mosaic Co. announced May 20 that Steve Paxton, vice president of internationals sale for Mosaic and president of PhosChem, will retire from Mosaic and PhosChem effective June 30, 2010. Paxton has led the development of Mosaic’s international sales presence since the founding of the company in 2004.
Paxton began his career in the crop nutrient industry with IMC Global, a Mosaic predecessor company, in 1975 as an account representative. Three years later he transferred to the international division as assistant sales manager in Singapore. Over the course of his career he held many positions in the international realm, and has served on the boards of Canpotex, Coromandel Fertilizers in India, and others. He became president of PhosChem in 2005, where he has been instrumental in expanding the reach of Mosaic’s international sales.
Gord McKenzie, director of international sales for Mosaic, will be assuming Paxton’s responsibilities at Mosaic beginning June 30, 2010.
“Steve has played a central role in the growth of Mosaic, particularly in the area of international sales,” said Jim Prokopanko, Mosaic president and CEO. “One of his many significant accomplishments has been the development of long-term relationships with key customers in Latin America, Asia, and Australia. His impact at Mosaic has been impressive – we thank him for his many contributions over the years.”
Vladislav Baumgertner will resign his post as Uralkali’s director general effective June 30, 2010. As of July 1, 2010, this position will be taken by Denis Morozov, who will also retain his current posts of president and CEO. He will assume all key managerial responsibilities.
Morozov has been president since February 2010 and has been with Uralkali since 2004. He previously worked for Yukos and ABB Group, and in the banking sector. Morozov has an economics degree from Moscow State University, as well as a diploma with honors in law. He also graduated from the Swiss Banking School and completed postgraduate studies at the Moscow State Institute of International Relations, receiving a PhD in economics.
Uralkali’s board said the change was planned when Morozov became president, and is part of the company’s strategy to increase management efficiency. The board said it greatly appreciated Baumgertner’s contribution to the development of the company during the past seven years as an executive.