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Organizational changes at Yara

Jun 28, 2004
The organisational changes involves all three business segments, creating new opportunities and challenges for several key people. Among the changes is the appointment of a new head of Yara's Industrial segment. Terje Bakken, now head of Ammonia Trade and Shipping, will as of September 1 take on the responsibility for Industrial, while Jon Reutz will lead a team to pursue our growth opportunities within the Industrial segment in the US.
Yara is also increasing its focus on how to further strengthen its position in Asia. Former head of US operations, Edward Cavazuti, will take the role as Business Unit Manager Asia, while Audun Sørbotten will take on the challenge to bring Yara further into the largest fertilizer market in the world, China. A total of 50 management changes have now been made at different levels at Yara, all based on existing internal resources.
"We are continually looking for ways to improve our operating platform. These organizational changes has been made to address our key future challenges: how to create an efficient organization that is poised for growth", says CEO of Yara International ASA, Thorleif Enger.
 "Yara is transforming from a turnaround mindset to one of shaping the future as a standalone stock listed company. Considering the added challenges as Chief Operating Officer of the new company, Daniel Clauw, as my most senior officer is appointed Executive Vice President," says Thorleif Enger.
Egil Hogna, Investor Relations
Telephone (+47) 24 15 71 66
Cellular (+47) 90 187 865
Arne Cartridge, Media Relations
Telephone (+47) 24 15 73 01
Cellular (+47) 47 900 900
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