Lars Røsæg has been appointed 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.