US Mosaic CEO has cancer, will stay in current role

20 March 2014 21:16 Source:ICIS News

HOUSTON (ICIS)--Mosaic announced on Thursday that CEO James Prokopanko has recently been diagnosed with cancer but will remain in his current role with the US fertilizer producer.

Prokopanko is undergoing chemotherapy and said he will continue in his duties for the company but will limit his travel schedule. While he did not disclose the type of cancer he said it was caught at an early stage.

“While this is a serious matter, the good news is that I'm feeling well and my doctors have informed me that I was diagnosed at an early stage,” said Prokopanko. “I remain committed to my job, and to Mosaic's employees, customers and shareholders. Fortunately, I have an experienced and dependable team who will continue to work closely with me in advancing Mosaic's strategic objectives during this period.”

On 17 March the producer announced it had completed the purchase from CF Industries (CF) of its phosphate business for $1.4bn. Mosaic and CF agreed on a deal for $1.2bn in cash plus $200m to fund CF’s asset retirement obligation escrow in October 2013. The deal included the Hardee County, Florida phosphate mine and plant as well as an ammonia terminal and product warehouse in Tampa.

By Mark Milam