By Madelene Pearson
April 22 (Bloomberg) -- Incitec Pivot Ltd., Australia’s largest fertilizer maker, named James Fazzino as acting chief executive officer after Julian Segal resigned and took a position with Caltex Australia Ltd. Incitec’s shares declined.
Segal quit for “family reasons,” the Melbourne-based company said today in a statement to the Australian stock exchange. Chief Financial Officer Fazzino, 42, joined the company in May 2003 and previously worked for Orica Ltd., according to Incitec’s annual shareholders’ report.
Segal, 54, will become chief executive officer and managing director at Sydney-based Caltex Australia, Caltex said today in a separate statement.
“Julian, together with James, has led a talented and dedicated management team,” Incitec Chairman John Watson said in the statement. “This has transformed Incitec Pivot from an Australian fertilizer business to a leading international chemicals company.”
Incitec, which has slumped 72 percent over the past year, declined as much as 8.9 percent to A$2.06, and traded at A$2.13 at 10:11 a.m. in Sydney. The benchmark S&P/ASX 200 Index gained 0.3 percent.
To contact the reporter on this story: Madelene Pearson in Melbourne on mpearson1@bloomberg.net
Posts
No comments:
Post a Comment