Mayo Schmidt new CEO of Nutrien
Russ Girling, former President and CEO of TC Energy is new chair of Nutrien's board of directors
April 19, 2021, 10:33 am
Nutrien, which is the world’s largest fertilizer producer, and has its largest potash mine at Rocanville, has named Mayo Schmidt its new CEO.
Nutrien announced that its Board of Directors has appointed Mayo Schmidt as President and Chief Executive Officer, effective immediately.
Schmidt succeeds Chuck Magro, who is stepping down from his management and Board role at the company to pursue new opportunities. Magro will be available to the corporation until May 16, 2021 to facilitate a smooth transition.
With Schmidt’s new role, Nutrien has also announced that Russ Girling, former President and CEO of TC Energy, has been named Chair of the Nutrien Board of Directors.
“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 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 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.”
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.
Schmidt previously became CEO of Saskatchewan Wheat Pool and restructured it into Viterra before it was bought by Glencore in 2012.
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. Schmidt says his 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.”
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 Magro’s resignation from the Board, the Board has determined to reduce the number of directors from 12 to 11.
Nutrien is the world's largest provider of crop inputs and services. It produces and distributes 27 million tonnes of potash, nitrogen and phosphate products world-wide.
Nutrien shares are up 14 per cent this year, outpacing the Canadian stocks benchmark index. Potash producers have rallied recently after an Indian potash importer agreed to a surprise price increase.
“I have enjoyed every moment of my time at Nutrien, and I wish the company and its people continued success,” Magro said in a statement. “I look forward to working with Mayo over the coming weeks to support a seamless transition and to my next adventure.”