UPDATE 1-Yara says CFO quits after CEO appointment
June 30th, 2008 | by admin |(Adds quotes from chairman, shares)
OSLO, June 30 (Reuters) - Yara International’s (YAR.OL: Quote, Profile, Research, Stock Buzz)Chief Financial Officer and strategy chief Sven Ombudstvedtunexpectedly announced he would step down on Monday, just hoursafter the fertiliser group picked a new chief executive.
Ombudstvedt will leave on July 4, the Norwegian companysaid. His replacement will be appointed next week.
“It was his decision. I don’t want to go into details,” Yaraboard chairman Oeivind Lund told Reuters.
“Yes, it could have a connection to the new boss coming in,”he said when asked about any link between the personnel changes.
Earlier on Monday Yara said Siemens (SIEGn.DE: Quote, Profile, Research, Stock Buzz) executiveJoergen Ole Haslestad, 57, would become its new boss inSeptember 2008, replacing Thorleif Enger, who will retire.
Before the CFO news, shares in Yara rose 2.5 percent toclose at 451 crowns on Monday, outpacing a 0.6 percent rise onOslo’s benchmark index . (Reporting by Oslo newsroom, editing by Will Waterman)
