Morningstar | Nutrien Board Chair to Retire; Our Long-Term Outlook Remains Intact
On Sept. 24, Nutrien announced that executive chairman Jochen Tilk will be retiring at the end of September 2018. Tilk was CEO of PotashCorp before the merger. As CEO, Tilk’s capital-allocation strategy focused on value creation by expanding the company’s low-cost potash business, which serves as the second basis for Nutrien’s narrow economic moat. Lead Director Derek Pannell will assume the role of non-executive chair of the board until the 2019 annual governance meeting, when a new board chair will be elected.We expect Nutrien will continue to focus on reducing unit production costs in its fertilizer businesses. Our narrow-moat rating, based on the company's cost advantaged potash and nitrogen production, remains intact. Likewise, our exemplary stewardship rating is also unchanged. We also maintain our Nutrien fair value estimates of USD 65 and CAD 85 per share.
Nutrien Ltd is Canada-based crop nutrient producer and distributer of potash, nitrogen and phosphate products for agricultural, industrial and feed customers worldwide. The Company is focused on retail, potash, nitrogen and phosphate mining and processing operations. The Company's retail operations serve growers in a number of countries across the United States, Canada, South Africa, Australia and South America. The Company operates six potash mines in Saskatchewan and has a mine in New Brunswick in care-and-maintenance mode. The Company operates integrated phosphate mining and processing facilities, as well as a number of smaller upgrading plants in the United States.
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