PotashCorp appoints Jochen Tilk as president and CEO, effective July 1; current president and CEO Bill Doyle will step down but remain employed with company as senior advisor through June 2015
April 7, 2014
– Tilk to assume CEO role in July 2014; Doyle to continue as Senior Advisor until June 2015, allowing for planned and seamless transition
Listed: TSX, NYSE Symbol: POT
Potash Corporation of Saskatchewan Inc. (PotashCorp) today announced that the Board of Directors has appointed Jochen Tilk as President and CEO, effective July 1, 2014.
After 27 years of dedicated service - during which PotashCorp grew to become the world's largest crop nutrient company - Bill Doyle will step down as President and CEO, but remain employed with the company as a Senior Advisor through June 2015.
"We're pleased to announce Jochen Tilk as the next President and CEO of PotashCorp. Jochen is known for his focus on operational excellence and disciplined growth, and the entire Board agreed he was the right person to lead the company forward," said Dallas Howe, Chairman of the Board. "The Board undertook a rigorous, three-year selection process for the new CEO that included the use of international executive search firms and a review of both internal and external candidates."
"Jochen's successful track record, his reputation among peers and commitment to the industry made him the ideal candidate to serve our customers and lead PotashCorp through our next phase of growth," said Bill Doyle.
Tilk comes to PotashCorp after a 30-year career in the mining industry, most recently serving as President and CEO of Inmet Mining. He was instrumental in helping grow that company's market capitalization by 5,000 percent and highly regarded by industry colleagues, employees and customers. Throughout his career he has earned a reputation for operational excellence, and in his previous role he developed - through asset optimization, organic growth and strategic acquisitions - a portfolio of facilities that was recognized as a leader in quality and cost. Along with these proven accomplishments, Tilk also made safety a top priority, fostering a "zero compromise" safety culture.
"The entire Board of Directors wishes to express its thanks to Bill Doyle for his long service as President and CEO, and his input during the succession process," said Howe. "Bill has been an exceptional CEO for PotashCorp and, under his leadership over the past 15 years, PotashCorp was transformed into the global leader it is today. We look forward to Bill's continued involvement and counsel as Senior Advisor to our new CEO and the Board."
"It's been a real privilege to have served PotashCorp for 27 years. The company is in great shape and I am more enthusiastic about the future than I have ever been, especially with the addition of Jochen Tilk," said Doyle. "PotashCorp has the best people, the best assets in the business and excellent long-term growth prospects. As the world's largest producer of crop nutrients, we will continue to play an important role in improving global food security."
"I'm honored to join the PotashCorp team and look forward to getting to know our employees, community members, investors, customers and other stakeholders," said Jochen Tilk, CEO designate. "PotashCorp has grown and benefitted enormously under Bill's leadership and the strategies that have created tremendous long-term value. I share his philosophy for running the company and plan to build on this strong foundation. I'm excited about the potential for PotashCorp and look forward to moving to Saskatoon to take up my new duties."
PotashCorp is the world's largest crop nutrient company and plays an integral role in global food production. The company produces the three essential nutrients required to help farmers grow healthier, more abundant crops. With global population rising and diets improving in developing countries, these nutrients offer a responsible and practical solution to meeting the long-term demand for food. PotashCorp is the largest producer, by capacity, of potash and among the largest in nitrogen and phosphate. While agriculture is its primary market, the company also produces products for animal nutrition and industrial uses. Common shares of Potash Corporation of Saskatchewan Inc. are listed on the Toronto Stock Exchange and the New York Stock Exchange.
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