Yara International ASA, Oslo, announced on Nov. 19 that Lars Røsæg will take on the position of executive vice president and CFO, effective immediately. Petter Østbø has stepped down as CFO and will leave the company.
Røsæg joined Yara in 2017, and since March 2018 has held the position of vice president, global joint ventures and CEO office. He holds a degree (Siviløkonom) from the Norwegian School of Economics (NHH). Yara said he has broad experience from senior finance and strategy positions at Sapa (2012-2017) and Orkla (2005-2012).
“I want to thank Petter for a good job for Yara over many years, including having a key role in implementing and driving Yara’s production improvement program,” said Svein Tore Holsether, Yara CEO. “I also want to underline that this change is not related to Yara’s financial performance nor any disagreement around strategic direction. We separate on good terms, and I wish Petter the best of luck for the future.”
Østbø, previously EVP, Production, became EVP and CFO in March (GM March 23, p. 24), succeeding Torgeir Kvidal, who became become Head of Mining operations, reporting to EVP Production.