Nutrien CEO Mayo Schmidt resigns less than a year into the job

Potash giant Nutrien is searching for a new CEO after Mayo Schmidt resigned from his post at the top of the company less than a year into the job, the company announced Tuesday.

No reason was given for Schmidt’s departure.

Schmidt, a former chairman who also served as president of the Saskatoon-based company, was appointed to the job of CEO last April after Chuck Magro left the company.

Magro previously served as president and CEO of Calgary-based Agrium Inc., before it merged with Potash Corp. of Saskatchewan in 2018.

Ken Seitz was named interim CEO, according to a news release Tuesday. He joined Nutrien as executive vice-president of potash operations in 2019. He previously led Canpotex, a potash company owned by Nutrien and Mosaic.

“Nutrien has delivered exceptional results in 2021 and is well-positioned to continue this strong momentum into 2022,” Russ Girling, chair of the Nutrien board of directors, said in the news release.

“Nutrien has a talented and deep executive team, and we are confident that Ken Seitz and this team will continue to build on the organization’s record financial and operating performance.

“The Nutrien board of directors will work with an executive search firm to begin a global search to select a long-term leader that will take the company into its next phase, which will consider internal and external candidates,” Girling added.

Seitz brings more than 25 years of global management experience to his new post. He has worked in more than 60 countries with an extensive background in the agriculture and mining sectors.

“I look forward to working with the executive leadership team, our tremendous employees and the board of directors to execute on our plan, continue this exciting progression across our business to serve our stakeholders, and deliver on our commitment to advance sustainable solutions to feed a growing world,” Seitz said in the release.