– USA, TX / CAYMAN ISLANDS – Itafos (TSX: IFOS) today announced the appointment of David Delaney as CEO, effective immediately, succeeding Dr. Mhamed Ibnabdeljalil who served as CEO since May 16, 2019.
Mr. Delaney has been serving as a member of the Board of Directors since February 6, 2017, and will continue in that role.
“The Board is extremely pleased to have David as CEO. David is highly respected within our industry and has been an independent director of the Company for several years. His in-depth knowledge of the industry and Company, combined with his collaborative leadership style and adaptability, will serve both him and the Company well,” said Board Chairman, Anthony Cina.
He added: “On behalf of the Board, I would also like to thank Mhamed for his service and contributions to the Company.”
About David Delaney
Mr. Delaney is a senior executive with over 30 years’ experience in leadership roles within the fertilizer and agricultural sectors. Mr. Delaney previously served as Chief Commercial Officer at Farmer’s Business Network Inc., an independent network of thousands of North America’s most advanced farmers. Before that, Mr. Delaney served as a Strategic Advisor for Paine & Partners, LLC, a private equity firm that focuses on the large and growing food and agricultural sectors. Before these roles, Mr. Delaney was the VP and COO of Potash Corporation of Saskatchewan Inc. where he oversaw operations across the company’s business segments, spanning 16 different sites. Earlier in his career at PotashCorp, Mr. Delaney served as President of Sales and Marketing where he led the centralization of the global sales function and had oversight of all sales, marketing, market research, transportation, and distribution activities. Before joining PotashCorp, Mr. Delaney held various sales and product positions at Arcadian Corporation Ltd until it was acquired by PotashCorp in 1997.
Mr. Delaney has served on numerous boards, including Arab Potash Company, Brandt, Farmers Business Network, Inc., Orbis Health Solutions and Willard Agri-Service, and other industry boards, including Canpotex, Fluid Fertilization Association, Phosphate Chemicals Expert Association, and the International Plant Nutrition Institute, and currently serves as President of the Southern Illinois University Foundation.
Mr. Delaney said, “I am very excited to join the Company’s management team and its terrific employees. The Company is uniquely positioned to continue serving our customers safely and reliably from our existing asset base with improving market fundamentals representing a positive change for our current product portfolio and our future. I look forward to spearheading the Company’s growth in the agricultural sector.”
Mr. Delaney holds a Bachelor of Science in Agriculture from Southern Illinois University.
About Itafos
The Company is a pure-play phosphate and specialty fertilizer platform with an attractive portfolio of strategic businesses and projects located in key fertilizer markets, including North America, South America, and Africa.
The Company’s businesses and projects are as follows:
- Conda – a vertically integrated phosphate fertilizer business with a production capacity of approximately 550kt per year of mono-ammonium phosphate, MAP with micronutrients, super-phosphoric acid, merchant grade phosphoric acid, and ammonium polyphosphate located in Idaho, US;
- Arraias – a vertically integrated phosphate fertilizer business with a production capacity of approximately 500kt per year of single superphosphate, SSP with micronutrients and approximately 40kt per year of excess sulfuric acid located in Tocantins, Brazil;
- Farim – a high-grade phosphate mine project located in Farim, Guinea-Bissau;
Paris Hills – a high-grade phosphate mine project located in Idaho, US; - Santana – a vertically integrated high-grade phosphate mine and fertilizer plant project located in Pará, Brazil;
- Mantaro – a phosphate mine project located in Junin, Peru;
- Araxá – a vertically integrated rare earth elements and niobium mine and extraction plant project located in Minas Gerais, Brazil.
The Company’s principal shareholder is CL Fertilizers Holding LLC. CLF is an affiliate of Castlelake, L.P., a global private investment firm.
The Company’s shares trade on the TSX Venture Exchange under the trading symbol “IFOS”. The Company’s registered office is at Ugland House, Grand Cayman, Cayman Islands KY1-1104.
For more information: https://www.itafos.com/
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