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C-Suite Chaos at World’s Top Fertilizer Company Baffles Investors

Nutrien remains tight-lipped on departure of two CEOs in eight months.

The conveyor system of a boring machine at the Nutrien Cory potash mine in Saskatoon, Saskatchewan, Canada. — The conveyor system of a boring machine at the Nutrien Cory potash mine in Saskatoon, Saskatchewan, Canada.
Photographer: James MacDonald/Bloomberg

By

Jen Skerritt and

Elizabeth Elkin

January 7, 2022, 5:01 PM UTC

These are boom times in the fertilizer market, with record prices amid strong demand. But the world's largest producer is in disarray after losing two chief executive officers in less than a year, and investors are still waiting for an explanation for the latest departure.

The surprise exit this week of Nutrien Ltd. CEO Mayo Schmidt just eight months into the job has fueled concern about corporate governance at the Canadian company.