Nutrien Announces Appointment of Mayo Schmidt as President and CEO

Nutrien Ltd. (TSX and NYSE: NTR Nutrien Ltd.), the world's largest provider of crop inputs and services, announced today that its Board of Directors has appointed Mayo Schmidt as President and Chief Executive Officer, effective immediately. Mr. Schmidt succeeds Chuck Magro, who is stepping down from his management and Board role at the company to pursue new opportunities. With Mr. Schmidt's new role, Nutrien is also proud to announce that Russ Girling, former President and CEO of TC Energy, has been named Chair of the Nutrien Board of Directors. Mr. Magro will be available to the corporation until May 16, 2021 to facilitate a smooth transition.

"Mayo is a remarkable leader who is committed to our values of safety and integrity, our purpose and our strategy focussed on sustainably feeding the world," said Mr. Girling. "Under his leadership, along with our deep and experienced executive leadership team and our 27,000 dedicated employees, the board is confident the company is well positioned to continue to grow and create enduring shareholder value."

"The outlook for our business is exceptionally strong," said Mr. Schmidt. "I look forward to leading the continued execution of Nutrien's strategy and driving industry-leading performance across all our lines of business. Over the coming weeks, I will be connecting with our employees, valued customers and shareholders to continue building our positive momentum and our focus on advancing sustainable solutions to feed a growing planet."

Mr. Schmidt brings over 30 years of agricultural business experience to his leadership of Nutrien. He joined the Agrium board of directors in 2012 and has served as Chair of Nutrien's Board of Directors since May 2019. He previously served as President and Chief Executive Officer of Viterra Inc., a Canadian globally diversified agri-business company that delivered agricultural and food ingredient products to customers in over 50 countries. He also held senior positions in other agricultural focussed companies such as ConAgra Grain, Canada and General Mills, Inc. Mr. Schmidt was also President and Chief Executive Officer of Hydro One Limited, Canada's largest utility. He serves as a member of Washburn University's Board of Trustees and Harvard's Kennedy School's Private and Public, Scientific, Academic and Consumer Food Policy Group and as a mentor for Catalyst Women on Board. Mr. Schmidt's passion for agriculture started as a young boy, working on their fourth-generation family wheat and dairy farm in western Kansas.

"On behalf of the Board of Directors and everyone at Nutrien, I would like to thank Chuck for his contribution to our growth and success since he joined the company in 2009," said Mr. Girling. "We wish Chuck all the best in his future endeavours."

Mr. Magro said, "I am very proud of the strong foundation we have built at Nutrien over the last several years. I am grateful for the dedication of our employees, and the important partnerships we have forged with our customers and stakeholders. I have enjoyed every moment of my time at Nutrien, and I wish the company and its people continued success. I look forward to working with Mayo over the coming weeks to support a seamless transition and to my next adventure."

With Mr Magro's resignation from the Board, the Board has determined to reduce the number of directors from 12 to 11. The 11 other directors identified in Nutrien's management proxy circular dated March 29, 2021 will stand for election at the Annual Meeting of Shareholders scheduled for May 17, 2021.

About Nutrien

Nutrien is the world's largest provider of crop inputs and services, playing a critical role in helping growers increase food production in a sustainable manner. We produce and distribute 27 million tonnes of potash, nitrogen and phosphate products world-wide. With this capability and our leading agriculture retail network, we are well positioned to supply the needs of our customers. We operate with a long-term view and are committed to working with our stakeholders as we address our economic, environmental and social priorities. The scale and diversity of our integrated portfolio provides a stable earnings base, multiple avenues for growth and the opportunity to return capital to shareholders.

Media Relations  
Megan Fielding
Vice President, Brand & Culture Communications
(403) 797-3015
Megan.fielding@nutrien.com

Investor Relations  
Richard Downey
Vice President, Investor Relations
(403) 225-7357
Investors@nutrien.com

News Provided by Business Wire via QuoteMedia

The Conversation (0)
Nutrien Ltd.

Nutrien Ltd.

Nutrien Ltd was created in 2018 as a result of the merger between PotashCorp and Agrium, Nutrien is the world's largest fertilizer producer by capacity. Nutrien produces the three main crop nutrients--nitrogen, potash, and phosphate--although its main focus is potash, where it is the global leader in installed capacity with roughly 20% share. The company is also the largest agricultural retailer in the United States, selling fertilizers, crop chemicals, seeds, and services directly to farm customers through both its physical stores and online platforms.

Nutrien Announces Ken Seitz and Jeff Tarsi as Speakers at the BofA Investor Conference

Nutrien Ltd. (TSX and NYSE: NTR) announced today that Mr. Ken Seitz, Nutrien's President and Chief Executive Officer, and Mr. Jeff Tarsi, Nutrien's Executive Vice President and President, Global Retail, will be speaking at the 2025 BofA Global Agriculture and Materials Conference on Wednesday, February 26 at 10:30am EST.

The fireside chat will be video cast and available on the Company's website at https://www.nutrien.com/investors/events

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Combine harvester harvests ripe wheat.

Top 10 Phosphate Countries by Production

Phosphate is mainly used in the form of fertilizer for crops and animal feed supplements. Only 5 percent of world phosphate production is used for other applications, such as corrosion prevention and detergents.

Demand for phosphate fertilizers had created a US$54.6 billion market by 2023, and that figure is expected to grow at a compound annual growth rate of 5.3 percent through 2030 to reach US$78.4 billion.

"One of the primary factors influencing the worldwide market for phosphate fertilizers is the increasing focus on sustainable agriculture," according to Persistence Market Research. "Phosphate fertilizers, which are widely recognized for their ability to augment soil fertility and enhance crop productivity, are crucial for the pursuit of sustainability objectives in the agricultural industry."

Keep reading...Show less
Tractor on farm field.

9 Phosphate Stocks to Watch

Demand for both phosphate and potash fertilizers is anticipated to continue growing as the world’s population increases and the amount of arable land decreases.

The phosphate market is expected to witness a compound annual growth rate of 5.3 percent between 2023 and 2030 to reach US$78.4 billion. Driving this growth will be increasing pressure on global food supply brought on by rising populations and climate change, as well as inflation and downstream costs. Phosphate is also increasingly becoming a sought-after battery material for the electric vehicle industry due to its use in lithium-iron-phosphate (LFP) batteries.

Thankfully, phosphate-mining production around the globe is expected to increase, with the largest areas of growth being Africa and the Middle East. Phosphate mining companies with project developments in Brazil, Kazakhstan, Mexico, Peru and Russia are all expected to contribute to increased phosphate rock production as well.

Keep reading...Show less
Hands holding coins with a sprout growing out of them.

How to Invest in Phosphate (Updated 2024)

Discovering ways to invest in phosphate begins with understanding its primary uses.

Notably, about 90 percent of phosphate is consumed by the agriculture sector. Because of its essential properties, and since there is no known substitute for it, phosphate can be found in fertilizer products all over the world as a way to aid plant growth. It is also used as a supplement in animal feed, as a food preservative and for several other chemical purposes.

As the world's population grows and demand for food increases, the need for phosphate fertilizer is only expected to increase. For that reason, some believe phosphate investing is compelling. Read on for a brief overview of the phosphate market, including supply and demand dynamics and investing options.

Keep reading...Show less
farm crops in a field

5 Top Weekly TSXV Stocks: Arianne Phosphate Grows with Nearly 80 Percent Gain

The S&P/TSX Venture Composite Index (INDEXTSI:JX) dropped 1.1 points this past week to close at 551.23.

The Bank of Canada held steady, announcing on Wednesday (January 24) that it will be maintaining a 5 percent target for its key overnight rate. It based its decision on year-end inflation figures that peg inflation at 3.4 percent for December.

The central bank expects inflation to remain in the 3 percent range for the first six months of 2024, before easing toward its 2 percent target in 2025. Meanwhile, the Bank of Canada projects that the country's gross domestic product (GDP) will remain relatively flat in 2024; it is projecting a 0.8 percent increase for the year, with a 2.4 percent increase in 2025.

Keep reading...Show less
vegetable plantation

Understanding Raw Rock Phosphate: What Investors Need to Know

Phosphate is an essential component in global food production, with nearly 90 percent of all production going to the agriculture sector.

In addition to being a core ingredient in much of the world's fertilizer, the mineral is also used as a food preservative, to supplement animal feed and in products such as lithium iron phosphate batteries.

As the world's population continues to grow, demand for phosphate will only increase. While this trend can make phosphate a very attractive investment, it is not something one should dive into without research.

Keep reading...Show less

Latest Press Releases

Related News

Ă—