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Yara International ASA Oslo (2008-06-30): After a successful period as CEO of Yara International, Thorleif Enger will retire from the company. He will be replaced by Jørgen Ole Haslestad (57), who will become the new CEO of Yara International as of September 2008. Mr. Enger steps down at his desired retirement age of 65 years.
Jørgen Ole Haslestad comes to Yara from Siemens where he recently was named one of a new group of 15 CEOs to oversee the conglomerate's operation. Haslestad is CEO of the Industry Solutions Division with a turnover of approximately USD 12 billion. During his 14 years at Siemens he held several senior executive positions across Asia, Americas and Europe. Prior to joining Siemens, Mr. Haslestad, who holds an M.S. degree in Mechanical Engineering, was CEO of Kongsberg Offshore. He has served as a board member of both Yara and Tandberg since 2004.
"Having spent 14 years abroad, I am delighted to come home and run one of Norway's most exciting and expansive international companies. I have followed the company close up as a member of the board for four years. Coming from a farming family and being a farmer still, I have deep respect for our natural heritage and a strong commitment to creating sustainable solutions," says Jørgen Ole Haslestad.
"The search for a new CEO at Yara has been very thorough over the last year. Thorleif Enger has been clear on his intention to step down at age 65, and we have considered several internal and external candidates to replace Mr. Enger. We are extremely pleased with the choice of Jørgen Ole Haslestad. He has both the international experience, a successful track record running global multi-billion dollar businesses and a strong knowledge of Yara as a long-term board member", says Chairman of the Yara Board, Øivind Lund. "He brings both inside knowledge and outside experience when he joins the company on a full-time basis in September."
Thorleif Enger took on the role of leading the Hydro Agri division in 1999. He led a very successful turnaround process and was instrumental in preparing and executing the IPO in 2004. Previously he held several executive positions at Norsk Hydro and in international business. Mr. Enger will continue in his role as President of IFA - The International Fertilizer Association.
"The opportunity to lead the business for more than 9 years and the last 4 as a listed company has been a great experience. We have made a lot of progress and the company is in a strong position for further growth and development", says Thorleif Enger. "We have a very experienced and competent organization and management team and I am very pleased with the choice of Jørgen Ole Haslestad as the next CEO of Yara."
Øivind Lund adds "Thorleif Enger has built a very successful operation in Yara, increasing shareholder value tenfold since the IPO in 2004. We thank him for his strong efforts, the remarkable journey that the company has had and the strong platform that he has built. We remain confident that Yara's success will continue."
Yara International ASA is a 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 and agronomic solutions, we help provide food for a growing world population. Our industrial product portfolio includes environmental protection agents that safeguard air and water purity and preserve food quality. Yara's global workforce of more than 8,000 employees represents great diversity and talent enabling Yara to remain a leading performer in its industry. www.yara.com
