Three resign from SQM board – Alert
Sociedad Química y Minera de Chile SA, which is the target of a Chilean government investigation for campaign fund violations, has announced that three board members have resigned–Wayne R. Brownlee, José María Eyzaguirre B., y Alejandro Montero P.
SQM said all three were elected with votes of the shareholder Potash Corp. of Saskatchewan Inc. Their resignations were effective March 17, 2015. PotashCorp owns a 32 percent stake in SQM.
On March 16, SQM agreed to terminate CEO Patricio Contesse González. He was replaced by Patricio de Solminihac Tampier.
In the past, the government has levied fines totaling $164 million against company executives. These related to stock trades.