‘Unexpected twist’ at high-flying Nutrien as second CEO resigns in less than a year – by Gabriel Friedman (Financial Post – January 4, 2022)


Nutrien Ltd. lost its second CEO in a year after the company said Tuesday its chief executive Mayo Schmidt had resigned and left the company, but provided no reason for the departure.

“The Nutrien Board of Directors will … search to select a long-term leader that will take the company into its next phase,” Russ Girling, chair of the board, said in a press release. Girling said the company would consider internal and external candidates, but did not elaborate on what he meant by “next phase.”

Schmidt was appointed chief executive in April 2021 after Nutrien announced that his predecessor Chuck Magro had resigned but never offered an explanation for the exit. At the time, Schmidt was chair of Nutrien’s board — having come from Agrium Inc., which merged with Potash Corp. of Saskatchewan in 2018 to form the current company.

Both Schmidt and Magro also resigned from the board at the time of their exits. Magro is now chief executive at Delaware-based agriculture technology company Corteva Inc.

For the rest of this article: https://financialpost.com/commodities/energy/unexpected-twist-at-high-flying-nutrien-as-second-ceo-resigns-in-less-than-a-year