Nutrien names Ken Seitz as CEO of the Canadian potash fertilizer producer
Canada's Nutrien, the world's largest potash fertilizer producer, named Ken Seitz as CEO on Monday, removing the interim tag.
Nutrien in January surprised investors by replacing its CEO for the second time in eight months. It then named Seitz, the head of its potash business, as interim CEO, replacing Mayo Schmidt.
Fertilizer companies are raking in profits due to sanctions against Russia and Belarus, the world's second- and third-largest potash fertilizer suppliers after Canada.
Seitz expects those eastern European supplies to remain restricted into 2023.
"There are a lot of moving parts, but a lot of uncertainty in an environment where the demand for nutrients is growing," he said in an interview.
Nutrien earned a record $3.6-billion in the second quarter, more than tripling profit from a year earlier. Read full story
The company is expanding its Canadian potash production by 20% by 2025.
Rival BHP Group is building its first potash mine in Nutrien's Canadian backyard and is open to taking on a partner. Seitz said his focus is on Nutrien's business.
Asked about the turnover prior to his appointment, Seitz said he expected the company's recent stability to continue.
"If you step back and look at the way we have been executing on our business, we've been doing that consistently," he said.
Seitz joined Nutrien as executive vice president in charge of potash operations in 2019. He previously led Canpotex, a potash export company owned by Nutrien and Mosaic Co.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation