Intrepid Potash Inc. announced on April 9 that company CEO Bob Jornayvaz was involved in an accident on April 6 while playing in the US Open Polo Championship. Local news reports from Wellington, Fla., said Jornayvaz was thrown from his horse and transported by helicopter to the St. Mary Medical Center, where he is currently receiving treatment. Jornayvaz was identified as the owner of the Valiente polo team.
“Our thoughts are with him and his family,” Intrepid said in a statement. “We will provide updates as more information becomes available.”
In other company news, Intrepid CFO Matthew Preston has decided to stay with the company. As previously reported, Preston had informed Intrepid that he would be leaving his position to pursue another business opportunity, effective April 12, 2024 (GM April 5, p. 26). However, after further discussion and negotiation, Preston notified Intrepid on April 10 of his decision to stay with the company, continuing in his role as CFO, including as principal financial officer under Securities and Exchange Commission rules and regulations.
As part of his decision to stay with Intrepid, Preston will receive an increase in annual base salary to $390,000 and a grant of restricted stock valued at $300,000, which vests in three equal annual installments beginning on April 10, 2025, subject to continued service with the company. Other than these changes, Preston’s compensation with the company remains as previously disclosed.
The Intrepid Board also reported on April 5 that Cris Ingold has been promoted to Chief Accounting Officer of the company, effective April 12, 2024. In this position, he will serve as the company’s principal accounting officer under SEC rules and regulations. Ingold, 59, has served as Intrepid’s Corporate Controller since November 2019. Previously, he served in successively more senior accounting roles since joining the company in 2011.
Before joining Intrepid, Ingold worked in a variety of accounting roles at various public companies, and also at Deloitte & Touche LLP serving both public and private audit clients in a wide variety of industries. He is a certified public accountant and a member of the American Institute of Certified Public Accountants.