Yara International ASA reports that Terje Bakken, head of the Supply & Trade unit, has resigned. He will be succeeded by Torgeir Kvidal, presently senior vice president, investor relations, effective April 1. “I would like to thank Terje Bakken for the value he has created for Yara over many years. As he has chosen to pursue his career outside of Yara, I want to congratulate him on his new position,” said Jørgen Ole Haslestad, Yara president and CEO. Bakken will take up a new position as CEO of Trygg Pharma AS, a 50/50 jv between Aker BioMarine ASA and Lindsay Goldberg LLC. As a result, and effective immediately, Bakken is no longer part of Yara’s executive management team; however, he remains a Yara employee in the transitional period of up to three months. Supply & Trade is Yara’s business unit responsible for global optimization of energy and raw materials purchases, ammonia trade and shipping, maritime logistics, third-party sourcing, and feed phosphates.
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