Mr Stranghoener has served on the company’s board since 2003, and is currently also a board member of Aleris Corporation. He previously retired from Mosaic Company where he served as executive vice president and chief financial officer.

“With vast experience in global business management and finance, we look forward to Mr Stranghoener’s leadership and counsel as the new chairman,” commented the company’s president and chief executive officer Don Nolan. "At the same time, we are grateful for Mr Newlin's contributions to the company over the last three decades and know that his leadership will have a lasting impact."