Yara International ASA, Oslo, said on Jan. 21 that Yves Bonte (CEO NewCo) will leave Yara to take up the combined role as CEO and Chair of the Board of Directors of Domo Chemicals, a global engineering materials company headquartered in Belgium. Bonte will begin his new role during February.
“I would like to thank Yves for his strong contribution to Yara over more than a decade,” said Yara President and CEO Tore Holsether. “Under his leadership, the industrial nitrogen businesses have delivered strong results for the company, and Yves has built a strong organization which I am confident will continue the great work in the next phase for this business.”
A process has been initiated to identify Bonte’s successor.
Bonte took on the CEO NewCo role last summer, when it was announced that Yara was looking into creating an independent public offering (IPO) for its industrial nitrogen business (GM June 28, 2019). A final conclusion for the IPO scope was expected in early 2020. As part of the evaluation process, the business units Mining Applications (TAN), Transport Reagents, and Industrial Nitrates on July 1, 2019, were organized as a separate entity. Bonte, previously Executive Vice President, New Business, took on the role as CEO of this entity, reporting to an internal Board of Directors chaired by Holsether.