(Reuters) – Norwegian fertiliser firm Yara International said on Tuesday it had fired chief executive Joergen Ole Haslestad and that its merger talks with rival CF Industries would continue under the leadership of its finance chief.
Haslestad is effectively the second CEO casualty since the merger talks were announced last month.
Yara had appointed aluminium producer Norsk Hydro’s CEO Svein Richard Brandtzaeg to run the firm from early 2015, but Brandtzaeg turned down the role after learning about the merger talks.
“Yara’s board have concluded that Haslestad is not the right person to lead the company going forward, also in light of the on-going talks with CF Industries,” Yara’s chairman of the board, Leif Teksum, said in a statement.
“Haslestad would not have a role in a potential merged company,” the statement added.
Chief Financial Officer Torgeir Kvidal will take over as acting CEO and lead the Yara team conducting the talks.
This is the first acquisition by Iberchem since it was acquired by Croda in November 2020 and it is expected to play an important role in Iberchem’s plan to increase its offering of sustainable and natural certified fragrances.
ICL, a leading global specialty minerals and specialty chemicals company, has entered into a definitive agreement to acquire Compass Minerals América do Sul S.A. for approximately $402 million.
OMV says its European petrochemical net margins in the first quarter of 2021 rose sequentially compared with the fourth quarter, reversing momentum after four previous periods of declining margins.