The former head of fertilizer giant Nutrien Ltd., Saskatoon, has been tapped to join Corteva Inc., Wilmington, Del., as its new CEO, replacing the seed and chemical company’s longtime boss following an activist push, according to Bloomberg. Chuck Magro, who served as Nutrien’s CEO from 2018 until April, will take the helm at Corteva on Nov. 1.
Corteva CEO James Collins, who announced his retirement in June after more than 37 years with Corteva, will leave at the end of 2021.
Magro joins Corteva after activist investor Starboard Value LP attempted to take control of the Board of Directors to oust Collins earlier this year, saying management had been taking credit for achieving milestones without improving profitability. In March, three new Independent Directors suggested by Starboard were added to Corteva’s 12-member Board.