Change in Executive Management of Yara International ASA
Apr 01, 2011
Oslo (2011-04-01): Head of Yara's Supply and Trade unit, Terje Bakken, has resigned from his position in Yara. He will be succeeded by Torgeir Kvidal, presently SVP Investor Relations.
"I would like to thank Terje Bakken for the value he has created for Yara over many years. As he has chosen to pursue his career outside of Yara, I want to congratulate him on his new position," says President and CEO Jørgen Ole Haslestad.
Torgeir Kvidal takes on the position as Head of Supply and Trade on 1 April, and he retains the responsibility for Investor Relations until 1 May. Terje Bakken will take up a new position as CEO of Trygg Pharma AS, which is a 50/50 joint venture between Aker BioMarine ASA and Lindsay Goldberg LLC.
As a result, and effective immediately, Terje Bakken is no longer part of Yara's Executive Management team. He remains a Yara employee in the transitional period of up to three months.
Supply & Trade is Yara's business unit responsible for global optimization of energy and raw materials purchases, ammonia trade and shipping, maritime logistics, third-party sourcing, and feed phosphates.
Anders Lerstad, Investor Relations
Telephone (+47) 24 15 75 86
Cellular (+47) 93 42 69 54
Asle Skredderberget, Media Relations
Cellular (+47) 41 44 36 10
Yara International ASA is the world's leading chemical company that converts energy, natural minerals and nitrogen from the air into essential products for farmers and industrial customers. As the number one global supplier of mineral fertilizers, we help provide food for a growing world population. Our industrial product portfolio includes environmental protection agents that prevent air pollution. Yara's global workforce of 7,300 employees represents the great diversity and knowledge that enables Yara to remain a leading performer in the industry.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.