PotashCorp Representatives Resign from the SQM Board

Potash Corporation of Saskatchewan (TSX:POT,NYSE:POT) announced the three directors it nominated for the SQM board, Wayne Brownlee, Alejandro Montero and Jose Maria Eyzaguirre,  have resigned.

As quoted in the press release:

The Chilean Public Prosecutor has made serious allegations of wrongdoing by SQM and its management. PotashCorp and its SQM board representatives have demanded an exhaustive, transparent and independent investigation by the company. SQM’s board has not authorized a review which meets the standards we expect despite consistent efforts by our board representatives. Likewise our board representatives’ emphatic requests that SQM fully and voluntarily cooperate with competent authorities, particularly in the case of the request by the Office of the Public Prosecutor for a voluntary delivery of information, have been rejected by a majority of the board.

Click here to read the full Potash Corporation of Saskatchewan (TSX:POT,NYSE:POT) press release.