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Yara International switches CFO in management overhaul

Fertilizer producer Yara International ASA's executive vice president of production, Petter Østbø, is switching roles to CFO and executive vice president.

The company said March 21 that it is simplifying its organization in a bid to be more agile and responsive to market conditions.

Østbø is replacing Torgeir Kvidal in the two roles. Kvidal will become the head of mining operations and Tove Andersen, the executive vice president of supply chain, will take on Østbø's position as executive vice president of production.

Pablo Barrera Lopez, Yara International's country manager for Chile, will assume the position of executive vice president of supply chain.

In addition, Pierre Herben is leaving the company's executive management team. Herben was executive vice president of the company's corporate innovation segment, which is being moved to its industrial segment.

Yara International said the changes are effective immediately, except for Andersen and Lopez, who will take up their new positions April 1.

In February, the company posted net income of 3.95 billion Norwegian kroner for 2017.