Sector News

Fertiliser maker Yara picks CEO from metals group Sapa

March 30, 2015
Chemical Value Chain
(Reuters) – Norwegian fertiliser maker Yara International has hired the head of Swedish aluminium products group Sapa as its new chief executive, it said on Monday, ending a run of failed attempts to recruit a permanent CEO.
 
Svein Tore Holsether will take up the position at the world’s biggest nitrogen-based fertiliser by October 1, Yara said.
 
The company had originally hired aluminium maker Norsk Hydro’s CEO Svein Richard Brandtzaeg to run the firm, but he withdrew before taking up the post when Yara began merger talks with Chicago-based CF Industries last September.
 
During the talks, which ultimately failed, Yara abruptly fired its then-CEO Joergen Ole Hasslestad, declaring him unfit to handle the negotiations and instead promoting Chief Financial Officer Torgeir Kvidal as acting CEO.
 
Kvidal will return to the position of CFO, Yara said.
 
Sweden’s Sapa is 50 percent owned by Norsk Hydro and 50 percent by Norwegian conglomerate Orkla. (Reporting by Terje Solsvik; editing by Jason Neely)
 
 

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 27, 2020

Ineos and Hyundai announce collaboration surrounding hydrogen economy

Chemical Value Chain

Hyundai and INEOS will jointly investigate opportunities for the production and supply of hydrogen, as well as the worldwide deployment of hydrogen applications and technologies.

November 27, 2020

Partnership to develop AI technologies for industry

Chemical Value Chain

Wood and industrial software company Cognite have partnered to accelerate industrial transformation by creating AI technologies that will allow heavy-asset infrastructure and industry to achieve more connected, sustainable, and data-driven operations.

November 27, 2020

Shell launches ‘blue’ hydrogen technology

Chemical Value Chain

Shell Catalysts & Technologies, which licenses technologies and brings capabilities to market, has launched Shell Blue Hydrogen Process, aimed to significantly increase the affordability of greenfield “blue” hydrogen projects.

Send this to a friend