Vice president and treasurer will serve as interim CFO
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Apr. 25, 2017--
Compass Minerals (NYSE:CMP) announced today that effective immediately
its chief financial officer, Patrick “Doug” Linehan, is departing the
company due to unforeseen personal circumstances. Linehan’s departure
involves no disputes with the company or issues regarding accounting
practices, financial statements or operations.
Concurrently, James “Jamie” Standen, vice president, finance and
treasurer, has been named interim CFO and treasurer.
“While we are disappointed by Doug’s departure, I am confident that
Jamie has the depth of experience to provide us the strategic financial
leadership and continuity we need at this juncture as we look to
strengthen our balance sheet and improve earnings,” stated Fran Malecha,
Compass Minerals president and CEO. “Jamie has been integral in leading
the integration of our recent Brazilian acquisition as the finance
leader for the Plant Nutrition South America segment. Furthermore, with
his strong financial acumen and extensive capital markets knowledge, he
has created significant financial flexibility within the company’s
capital structure to support the execution of our strategic vision and
is well-known and respected by our external and internal stakeholders.”
The company will immediately begin a process to identify a permanent
CFO, which will include internal and external candidates.
Standen joined Compass Minerals in 2006 as assistant treasurer and has
held positions of increasing responsibility since that time. In addition
to his leadership of the Plant Nutrition South America finance function,
Standen currently leads all capital market transactions, manages all
commercial banking relationships, oversees financial risk management and
the corporate financial planning and analysis team and serves on the
company’s investment committee. Prior to joining Compass Minerals,
Standen spent six years in various finance roles at Kansas City Southern
Railway Company.
About Compass Minerals
Compass
Minerals is a leading provider of essential minerals that solve
nature’s challenges, including salt for winter roadway safety and other
consumer, industrial and agricultural uses, and specialty plant
nutrition minerals that improve the quality and yield of crops. Named
one of Forbes’ 100 Most Trustworthy Companies in America in 2015 and
2016, Compass Minerals’ mission is to be the best essential minerals
company by delivering where and when it matters. The company produces
its minerals at locations throughout the U.S., Canada, Brazil and the
U.K. For more information about Compass Minerals and its products,
please visit www.compassminerals.com.
This press release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on the company’s current expectations and involve
risks and uncertainties that could cause the company’s actual results to
differ materially. The differences could be caused by a number of
factors including those factors identified in the “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and Results
of Operations” sections of the company’s Annual and Quarterly Reports on
Forms 10-K and 10-Q. The company undertakes no obligation to update any
forward-looking statements made in this press release to reflect future
events or developments.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170425006766/en/
Source: Compass Minerals
Compass Minerals
Investor Contact
Theresa
Womble, +1-913-344-9362
Director of Investor Relations
womblet@compassminerals.com
or
Media
Contact
Tara Hart, +1-913-344-9319
Manager of Corporate
Affairs
MediaRelations@compassminerals.com