New Dreyfus CEO leaves Agrium board

Mayo Schmidt, the former Viterra chief executive named last month to become CEO of Louis Dreyfus’ global commodities business, has stepped away from the board table at ag input firm Agrium.

Calgary-based Agrium, which includes wholesale fertilizer and retail seed, fertilizer and crop protection businesses, announced last Monday (Dec. 22) that Schmidt would resign from its board of directors effective that day.

Schmidt’s resignation, Agrium said, comes “as a result of his recently accepted role” at Dreyfus. [Related story]

Schmidt was named as an Agrium director in 2013, after he’d led Viterra into its sale to international commodity firm Glencore in 2012.

The Agrium appointment stemmed from a tussle between the company and New York hedge fund Jana Partners, which then controlled about six per cent of Agrium.

Jana, well known as an activist investor, had unsuccessfully sought to spin off Agrium’s retail arm. But Jana had also pressed Agrium to boost the level of industry experience on its board of directors.

Agrium chairman Victor Zaleschuk last Monday hailed Schmidt as “a respected director (who had) added valuable industry and governance insight.” –– AGCanada.com Network

 

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