Oslo, 19 November 2018:Lars Røsæg will take up the position of EVP and Chief Financial Officer (CFO) with immediate effect. Petter Østbø has stepped down as CFO and will leave 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.

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

"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," said Lars Røsæg, EVP and Chief Financial Officer of Yara.

"I want to thank Petter for a good job for Yara over many years, including having a key role in implementing and driving Yara's production improvement program. 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," said Holsether.

Photo of Lars Røsæg: https://yaraurl.net/zwgq (Photo: Yara International)


Contact

Thor Giæver, Investor Relations
Mobile: (+47) 48 07 53 56
E-mail: thor.giaver@yara.com

Kristin Nordal, Head of External Communications
Mobile: (+47) 90 01 55 50
E-mail: kristin.nordal@yara.com


About Yara

In collaboration with customers and partners, Yara grows knowledge to responsibly feed the world and protect the planet, to fulfill its vision of a collaborative society, a world without hunger and a planet respected.

Our crop nutrition solutions and precision farming offerings allow farmers to increase yields and improve product quality while reducing environmental impact. Our environmental and industrial solutions improve air quality and reduce emissions, and are key ingredients in the production of a wide range of products. We foster an open culture of diversity and inclusion that promotes the safety and integrity of our employees, contractors, business partners, and society at large.

Founded in 1905 to solve emerging famine in Europe, Yara has a worldwide presence with more than 17,000 employees and operations in over 60 countries. In 2017, Yara reported revenues of USD 11.4 billion.

www.yara.com