Incitec Pivot Fertilisers leadership changes

Incitec Pivot Limited (IPL) announced that Christine Corbett has resigned from her role as Incitec Pivot Fertilisers (IPF) CEO designate.

The company acknowledges Ms Corbett’s valuable contribution while leading the IPF business.
 
Ms Corbett will support the IPF leadership team as part of a smooth transition to the end of June, when she will leave the company.

The company understands that Ms Corbett has made the decision due to IPL’s deferral of the proposed demerger of its fertilisers and explosives businesses.  This follows the IPL Board’s decision to undertake a sale of the Waggaman ammonia manufacturing facility ahead of the proposed demerger.

As previously announced, the proposed separation of the IPF business remains a key strategic priority, with the Board continually assessing all options that will create the most value for shareholders.

Mike Carroll continues as IPF Chairman designate and IPF’s current CFO Chris Opperman will be appointed IPF Interim President, effective from today. Mr Opperman brings a wealth of experience to the role, including 13 years working with IPL across key leadership positions in the finance team.

IPF Chairman designate Mike Carroll said: ″Christine has displayed commitment to her role and the great people within our IPF business and I want to thank her for her valuable contribution.″

″IPF remains focused on delivering for our customers and continuing to progress our business strategy in the second half.″

IPL continues to progress preparation for the separation of its leading fertiliser business, which has an extensive, vertically integrated distribution network supporting Australia’s East Coast, a globally strategic food bowl.  IPF is well positioned to capitalise on leading a step-change in sustainable fertiliser and value-add products, while ensuring security of supply for customers.

IPL has agreed to a shortened three month notice payment for Ms Corbett and no termination entitlement, relating to the proposed demerger, has been triggered.