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A new person is in charge of running one of the world’s largest fertilizer companies.
Saskatoon-based Nutrien announced Monday that Chuck Magro is stepping down as chief executive officer to pursue other opportunities.
Succeeding Magro is Mayo Schmidt, the company’s chair.
“The outlook for our business is exceptionally strong,” Schmidt said in a news release. “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.”
The change takes effect immediately.
With Schmidt’s new role, Russ Girling — former president and CEO of TC Energy — has been named the company’s new board chair.
Magro has been with the company since Agrium and Potash Corp. merged in 2018.
Schmidt joined the Agrium board of directors in 2012 and has served as Nutrien chairman since May 2019. Prior to joining Agrium, he was president and CEO of Viterra.
The Nutrien board also reduced the number of directors from 12 to 11.
Government welcomes new CEO
Minister of Energy and Resources Bronwyn Eyre said the government looks forward to working with Nutrien’s new team lead by Mayo Schmidt.
“Nutrien is a key economic player and significant employer in our province, and we are grateful for the investments the company continues to make here,” she said in a statement.
“Our government will continue to work with Mr. Schmidt, who has connections to Saskatchewan, and new Nutrien board chair, Russ Girling, to ensure the company’s corporate commitment to Saskatchewan remains a priority.”