EuroChem Group AG, a leading global fertilizer company, announced yesterday the buy-back of a 10% stake in the Group from former Chief Executive Officer Dmitry Strezhnev.
The stake was sold by Midstream Group Limited, a holding company whose sole beneficiary is Mr Strezhnev, for the value of US$785 million. Mr Strezhnev, who served as CEO and Board Member for more than 15 years, stepped down from the Board back in May after deciding to focus instead on other business ventures outside EuroChem.
“I am grateful to Dmitry for his long service to EuroChem. He has been instrumental in the successful development of the company into a global force in the fertilizer industry and we wish him every success in the future,” said Alexander Landia, Chairman of the Board of EuroChem.
About EuroChem Group AG
EuroChem is a leading global producer of nitrogen, phosphate and potash fertilizers. The Group is vertically integrated with activities spanning mining to fertilizer production, logistics, and distribution. EuroChem began test production at its Usolskiy potash mine in early 2018, and continues to develop a second greenfield site at VolgaKaliy in Russia. Headquartered in Zug, Switzerland, the Group operates production facilities in Europe, Asia and the CIS, employing more than 26,000 people.