Yara International ASA, Oslo, said Sept. 24 that it is evaluating strategic options for the Yara Marine Technologies (YMT) business, including a potential sale. Yara noted that it has a long history of adjusting its portfolio when the conditions are right.
Yara is currently evaluating different options for YMT, and no decisions have yet been made regarding its future ownership. It said the YMT business is performing strongly, and will continue to operate and invest according to its current plans. Yara says YMT business offers a complete SOX and NOX abatement solution portfolio to the marine segment, and is among the world’s top three scrubber suppliers, well positioned for growth as the new IMO marine sulfur emission regulations come into force in 2020. YMT sales are set to triple compared with 2017, to reach more than NOK 450 million in 2018, and are expected to double from 2018 to 2019.
Nutrien Ltd., Saskatoon, announced Sept. 24 that Jochen Tilk will be stepping down as executive chair and as a director of the company, effective Sept. 30, 2018, to pursue other opportunities. Nutrien said Tilk’s key objectives are well on track and he and the board have decided that it would be the right time to hand over the leadership of the board to an independent chair.
Tilk was the president and CEO of Potash Corp. of Saskatchewan Inc., prior to its merger with Agrium Inc. to form Nutrien.
Effective Sept. 30, Nutrien’s current Lead Director Derek Pannell will assume the role of non-executive chair of the board through the 2019 annual general meeting (AGM). It is expected that the plans regarding the new independent chair, post the 2019 AGM, will be contained in the proxy circular for that meeting.
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