Oslo, 20 May 2020: Yara will move from a segment structure to a regional organizational structure, effective 1 June 2020. Yara’s operations will comprise four profit centers, of which three are regional units and a fourth unit for global production plants and operational excellence including health and safety. In addition, Yara will establish a new Farming Solutions global function.
“The new structure will sharpen our customer focus in each region, while also driving the transformation of our business for the future. It is a further milestone in executing our crop nutrition strategy as an integrated food value chain player,” said Svein Tore Holsether, President and Chief Executive Officer of Yara.
The three regional units – Europe, Americas, Africa & Asia – will all have production, supply chain and commercial operations, empowering them to run daily operations in a fully integrated setup. They will produce and deliver existing Yara solutions, in addition to commercializing and selling new offerings under the guidance of Farming Solutions.
The Global Plants & Operational Excellence unit will operate Yara’s largest production plants (Porsgrunn and Sluiskil), and drive operational improvement and competence development across Yara’s production units.
The Farming Solutions function will have a global mandate to drive the transformation of Yara’s core crop nutrition business, developing both existing and new solutions including premium products, digital business, food value chain collaboration and climate-neutral solutions.
Tove Andersen, currently EVP Production, will take up the position of EVP Europe. Chrystel Monthean, currently SVP Business Unit Latin America, will take up the position of EVP Africa & Asia. Lair Hanzen, currently EVP Brazil, will take up the position of EVP Americas. Pål Hestad, currently SVP Production North Europe, takes up the position of EVP Global Plants & Operational Excellence. Terje Knutsen, currently EVP Sales & Marketing, will take up the position of EVP Farming Solutions. Pablo Barrera Lopez, currently EVP Strategy & Supply Chain, takes up the position of EVP Strategy & Communication. Kristine Ryssdal, currently General Counsel, takes up the position of EVP HR & General Counsel.
Effective 1 June 2020, the Yara Group Executive Board will have the following members:
Svein Tore Holsether, President & CEO
Lars Røsæg, EVP & CFO
Tove Andersen, EVP Europe
Chrystel Monthean, EVP Africa & Asia
Lair Hanzen, EVP Americas
Pål Hestad, EVP Global Plants & Operational Excellence
Terje Knutsen, EVP Farming Solutions
Pablo Barrera Lopez, EVP Strategy & Communications
Kristine Ryssdal, EVP HR & General Counsel
“Our organization has over the past months responded to the challenges of our new reality with agility, speed and strength to support the global food value chain. This has deeply impressed me, and has confirmed my view that an empowered regional setup will strengthen our business, unlock potential and break down barriers,” said Svein Tore Holsether.
Lene Trollnes, EVP People and Global Functions, has decided to leave Yara to pursue opportunities outside the company.
“I want to thank Lene for her dedication and her excellent work in leading Yara’s global functions and driving people development. Thanks to Lene and her team, Yara is today a more diverse, inclusive and people-focused company,” says Svein Tore Holsether.
Yara will report second-quarter 2020 results according to its existing segment structure, and thereafter report according to the new regional structure with four operating units. Restated financial figures for 2019 and first half 2020 according to the new regional structure will be published ahead of Yara’s third-quarter 2020 financial results.
Thor Giæver, Investor Relations
Mobile: (+47) 480 75 356
Kristin Nordal, Corporate Communications
Mobile: (+47) 900 15 550
Yara grows knowledge to responsibly feed the world and protect the planet. Supporting our vision of a world without hunger, we pursue a strategy of sustainable value growth, promoting climate-friendly and high-yielding crop nutrition solutions for the world’s farming community and food industry.
Yara’s ambition is to be the Crop Nutrition Company for the Future. We are committed to creating value for our customers, shareholders and society at large, as we work to develop a more sustainable food value chain. To achieve our ambition, we have taken the lead in developing digital farming tools for precision farming, and work closely with partners throughout the food value chain to improve the efficiency and sustainability of agriculture and food production.
Founded in 1905 to solve the emerging famine in Europe, Yara has established a unique position as the industry’s only global crop nutrition company. With our integrated business model and a worldwide presence of around 16,000 employees and operations in over 60 countries, we offer a proven track record of responsible and reliable returns. In 2019, Yara reported revenues of USD 12.9 billion.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act