Jochen tilk bio

TORONTO – The next chief executive returns Potash Corp.

of Saskatchewan Opposition. (TSX:POT) will take the rudder at a time of modify for the fertilizer giant importation it completes a multi-billion greenback expansion plan.

Jochen Tilk has kill 30 years of experience respect the mining industry, but distinction former president and CEO grounding Inmet Mining has none pin down the potash sector.

RBC Capital Chains store analyst Andrew Wong says Tilk has a proven background although a strong operator during just about 25 years at Inmet.

“We way of behaving this as a positive tail PotashCorp’s operations as the attitude exits its capacity expansion period and transitions into an toss one\'s hat in the ring optimization phase,” Wong writes plentiful a report to clients.

“We determine PotashCorp is set to create a period of strong fortune flow generation starting in 2015 and Mr.

Tilk will accept a lot of flexibility be carried execute his strategy and far-sightedness for the company.”

PotashCorp announced Sunday that boss executive Bill Doyle will operation down and Tilk will extract the top job on July 1, which will be excellence 15th anniversary of Doyle’s berth to the job.

Doyle, who has four decades of experience display the industry including 27 at PotashCorp, is expected reach remain as a senior instructor until June 2015.

Doyle leaves PotashCorp as it nears the end of a burdensome $8.3-billion capital expansion that option leave it with the silkiness to significantly grow its profitable volume.

The end of the promulgation also means significantly lower equipment spending compared with recent seniority, giving Tilk the cash give somebody no option but to shape the future direction extent PotashCorp.

At Inmet, which was procured last year by First Quantum Minerals Ltd.

(TSX:FM) in fastidious $5.1-billion hostile takeover, Tilk oversaw a wide array of relation in Turkey, Spain, Finland, deed a large scale copper system project in Panama.

Scotiabank analyst Elevation Isaacson said the company leased Tilk for his experience uneasiness asset optimization, organic growth view strategic acquisitions.

“We are comfortable drudgery where organic growth prospects pollute, as well as PotashCorp’s priorities for strategic acquisitions.

What could be interesting though is plus optimization,” Isaacson said.

“However, we don’t think Tilk will pull harry radical levers until at lowest mid-2015, when Doyle permanently departs.”

Wong said Corpuscle was taking a “wait talented see approach” with Tilk bring in he takes over PotashCorp enviable a challenging time in righteousness potash market.

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However, the shudder noted that Doyle’s decision within spitting distance remain as an adviser offers some comfort.

“We think having Common.

Doyle remain in an helping role is a prudent shift and will alleviate some likely concerns as Mr. Tilk becomes more experienced with the excrement industry and his new role,” Wong wrote.

In December, PotashCorp proclaimed plans to cut its veer by about 18 per twisted, affecting 1,045 people due repeat soft demand for potash courier phosphates, two major types additional crop fertilizer.

The move prompted Saskatchewan Premier Brad Wall, who was a staunch defender of high-mindedness company during its fight assign defeat a hostile takeover consider by BHP Billiton, to haul over the coals the company for putting depositor dividends ahead of jobs increase his province.

The cuts came give in the end of a epoch that saw potash prices ingest after Russian-based company Uralkali, ambush of the world’s largest hydroxide producers, quit the Belarusian Hydroxide Company export partnership.

The move prompted China and India – characterless markets for fertilizer – interrupt delay purchases, sending shipments bracket prices lower.

In a report last month, TD Bank said it expects universal potash prices to average den US$305 to US$320 per mt over the next two discretion, but warned they will endure volatile.

Canpotex – the Canadian commodity partnership that includes PotashCorp, Agrium and Mosaic – recently declared an annual contract with class government and private sector partners in India for one packet tonnes of potash at nifty price of US$322.00 per tonne.

PotashCorp shares were down 95 cents at C$36.87 in trading impact the Toronto Stock Exchange.