Intrepid Potash Inc. on April 17 announced that its Board of Directors has granted Bob Jornayvaz, Executive Chairman of the Board and CEO of the company, a temporary medical leave of absence, effective April 16, as he recovers from injuries sustained in a polo accident on April 6 in Florida (GM April 12, p. 26).
Matt Preston, Intrepid’s current Chief Financial Officer, has been appointed as acting Principal Executive Officer and Hugh Harvey, Intrepid’s co-founder, has been appointed as a Class III Director. The Board has also temporarily delegated all responsibilities of the Chairman of the Board to Barth Whitham, Intrepid’s Lead Director.
“Our thoughts and best wishes go out to Bob and his family as he recovers, and we are pleased to announce both the appointment of Matt Preston to acting principal executive officer and appointment of co-founder Hugh Harvey to the Board,” Whitham said. “Mr. Preston’s understanding of Intrepid’s operations, along with the addition of Intrepid’s co-founder and former director Mr. Harvey to our Board, will provide the necessary stability and continuity for Intrepid as we continue to execute on our strategic initiatives through this interim period.”
In addition to being a co-founder, Harvey was a member of Intrepid’s Board from 2007-2022, including as the Executive Vice Chairman of the Board from 2010 to March 2020 and as Vice Chairman of the Board from March 2020 to February 2022. From 2007 until his retirement from Intrepid in 2020, Harvey served in various management roles, including Chief Technology Officer, Chief Operating Officer, and Executive Vice President of Technology.
Preston has been with Intrepid since 2008, serving as Chief Financial Officer since December 2021 and Principal Financial Officer since November 2019. Prior to becoming CFO, he served as Intrepid’s Vice President of Finance from November 2019 to December 2021 and Director of Budget and Forecast from April 2016 to November 2019. Prior to those roles, Preston served as Senior Manager of Budget and Forecast, Manager of Budget and Forecast, and Financial Analyst.