By Dominic Chopping
STOCKHOLM--Norwegian maker of fertilizers and crop nutrition,
Yara international (YAR.OS), said Friday it has resumed its search
for a new chef executive as Svein Richard Brandtzaeg has notified
the board he will not assume the position.
Mr. Brandtzaeg was appointed to succeed Jorgen Ole Haslestad by
February 2015. He currently serves as president and CEO of Norsk
Hydro ASA, a position he has held since 2009.
"The board regrets Brandtzaeg's decision but must accept the
situation," said Leif Teksum, chairman of the Yara board.
The appointment of Mr. Brandtzaeg in July was made in
preparation for Mr. Haslestad's retirement at the age of 65, but he
will now remain CEO until further notice. Yara's board will now
re-start the process of identifying Haslestad's successor.
Shares closed at NOK318.50 Thursday.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@WSJNordics
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