Itafos(the “Company”) announced yesterday that its Board of Directors has appointed Dr. Mhamed Ibnabdeljalil as Chief Executive Officer, effective immediately. Dr. Ibnabdeljalil has been serving as interim Chief Executive Officer since May 16, 2019. Dr. Ibnabdeljalil has also been serving as a member of the Company’s Board of Directors since December 31, 2016 and will continue in that role.
“The Board of Directors is pleased to confirm Mhamed as permanent CEO,” said Anthony Cina, interim Chairman of the Company’s Board of Directors. “Since becoming interim CEO, Mhamed has been integral in reshaping our strategy and business plan during a challenging economic cycle as the industry faces significant and continued downward pressure on global fertilizer prices. We are extremely confident that Mhamed’s extensive knowledge of and experience in the global fertilizer market makes him uniquely qualified to lead the Company and our global executive team over this next phase in the Company’s growth and success.”
Dr. Ibnabdeljalil has a track record in leading multi‐billion-dollar sales, marketing, raw material procurement, logistics, complex deal structuring and negotiation, and emerging markets M&A efforts across emerging and developed markets. Previously, he served as the Executive Vice President and Chief Commercial Officer of OCP Group S.A., a leader in the global phosphate industry. There, Dr. Ibnabdeljalil played an integral role in the corporate and strategic restructuring of OCP, reshaping its role in the phosphate fertilizer sector as a global leader. Dr. Ibnabdeljalil has served as a director on more than a dozen boards of fertilizer companies in Europe, India, Middle East and Americas.
The Company is a vertically integrated phosphate fertilizers and specialty products company with an attractive portfolio of long-term strategic businesses and projects located in key fertilizer markets worldwide.
The Company owns, operates and is developing the following businesses and projects:
Itafos Conda – a vertically integrated phosphate mine and fertilizer business with production and sales capacity of approximately 550kt per year of monoammonium phosphate (“MAP”), MAP with micronutrients (“MAP+”), superphosphoric acid (“SPA”), merchant grade phosphoric acid (“MGA”) and specialty products including ammonium polyphosphate (“APP”) located in Idaho, US;
Itafos Arraias – a phosphate fertilizer business with production and sales capacity of approximately 500kt per year of single superphosphate (“SSP”), SSP with micronutrients (“SSP+”), premium PK compounds and approximately 40kt per year of excess sulfuric acid located in Tocantins, Brazil;
Itafos Farim – a high-grade phosphate mine project located in Farim, Guinea-Bissau;
Itafos Paris Hills – a high-grade phosphate mine project located in Idaho, US;
Itafos Santana – a vertically integrated high-grade phosphate mine and fertilizer plant project located in Pará, Brazil;
Itafos Mantaro – a large phosphate mine project located in Junin, Peru; and
Itafos Araxá – a vertically integrated rare earth elements and niobium mine and extraction plant project located in Minas Gerais, Brazil.