Tuesday, April 5, 2022

Nutrien paid bosses $32.7 million over two years

Nutrien, Canada’s dominant fertilizer company, paid its chief executives $32.7 million in 2020 and 2021.

But it gained back $18.7 million when Chuck Magro joined its staff. Nutrien had paid him $18.48 million, including $8.09 million in severance and consulting fees after it fired him in April.

Mayo Schmidt, chairman of the board, took over as chief executive officer and when he was fired in January he collected $4.83 million in severance after being paid $9.8 million for his work during 2021.

Now Ken Sietz is chief executive officer, moving up from head of operations.

Nutrien is the world’s largest potash producer and the largest fertilizer retailer. It is a merger of Potash Corporation of Saskatchewan and Agrium of Calgary.

Nutrien's share price has almost doubled since Sietz took over, but retail prices for some key fertilizers have tripled.