Yara International ASA – Management Briefs

Yara International ASA said Sept. 26 that Svein Richard Brandtzæg has notified the board of directors that he will not assume the position as CEO of the company. “The board regrets Brandtzæg’s decision, but must accept the situation,” said Leif Teksum, Yara chairman. “Jørgen Ole Haslestad continues as CEO until further notice. Yara’s board will now re-start the process of identifying Haslestad’s successor as CEO.” Yara announced in July (GM July 28, p. 11) that Brandtzæg would succeed Haslestad, who planned to retire at age 65. Brandtzæg, the president and CEO of Norsk Hydro ASA, was to join Yara no later than Feb. 1, 2015. He will remain at Norsk Hydro.