December 13, 2018

Yara appoints Lars Røsæg as new EVP and CFO

Animal nutrition company Yara International has named Lars Røsæg as the new EVP and chief financial officer (CFO), replacing Petter Østbø, who has stepped down as CFO and is leaving the company.

"I am pleased to welcome Lars Røsæg into Yara management, where his strong analytical skills and broad financial and strategic experience will be highly valued," said Svein Tore Holsether, president and chief executive officer of Yara.

Røsæg joined Yara in 2017 and has, since March 2018, held the position of vice president, Global JVs & CEO Office. He holds a degree ("Siviløkonom") from the Norwegian School of Economics (NHH) and has broad experience from senior finance and strategy positions at Sapa (2012-17) and Orkla (2005-12).

"I am excited to accept this position, and look forward to joining Yara's experienced and competent finance organisation in driving prudent capital allocation and growing shareholder value", Røsæg said.

He thanked Østbø for "a good job for Yara over many years, including having a key role in implementing and driving Yara's production improvement programme".

"I also want to underline that this change is not related to Yara's financial performance nor any disagreement around strategic direction. We separate on good terms, and I wish Petter the best of luck for the future", he added.

Norway-based Yara provides solutions that support the healthy and efficient development of aquaculture, as well as poultry, pigs and cattle.