Investing.com - Financial Markets Worldwide
Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

K+S CEO to retire after contract runs out next year

Published 2016-03-10, 06:57 a/m
© Reuters. K+S CEO to retire after contract runs out next year
SDFGn
-
POT
-

FRANKFURT, March 10 (Reuters) - The embattled chief
executive of German fertiliser mining group K+S SDFGn.DE
expects to retire in May 2017 when his contract runs out, he
said on Thursday.
"I assume that I will move into retirement," CEO Norbert
Steiner told a press conference after the release of full-year
results, when asked about the end of his current contract next
year.
K+S has seen its share price drop almost 40 percent to 20.5
euros over the last six months and 8 percent over the last three
months, hurt by lower global potash prices.
Last year, CEO Steiner fended off a 41-euro-per share
takeover approach from larger Canadian rival Potash Corp
POT.TO , which withdrew its proposal in October.
German prosecutors are pressing charges against CEO Steiner
and 13 other K+S employees over suspected illegal waste water
disposal but the court has yet to decide whether the case will
go to trial.
"We will announce a successor in due course. The supervisory
board has not looked into the matter yet as far as I'm aware,"
Steiner said.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.