Compass Minerals Introduces a Streamlined Organizational Structure
OVERLAND PARK, Kan.--(BUSINESS WIRE)-- Compass Minerals (NYS: CMP) has announced a change to the company's organizational structure. The following senior management team will report to president and CEO, Fran Malecha, and will guide each of the company's core functions.
Jerry Bucan, senior vice president of the salt division with responsibility for both the North American highway deicing business and the consumer and industrial business.
Keith Espelien, senior vice president of the specialty fertilizer division. Espelien joined Compass Minerals as vice president of consumer and industrial manufacturing in 2011 and has held leadership roles in operations, sales, and senior and general management throughout his 32-year career in the minerals industry.
Jack Leunig, senior vice president of operations with responsibility for the company's mining, manufacturing, procurement, and environmental, health and safety functions.
Rod Underdown, chief financial officer and corporate secretary. Underdown will continue to lead all financial functions of the company.
Steve Berger, senior vice president of corporate services with responsibility for human resources and information technology.
David Goadby, senior vice president of strategy.
"This simplified structure and leaner management is designed to produce a more efficient and focused organization. Our goal is to drive continuous improvement in both our execution and competitive position," said Malecha.
This realignment eliminates a limited number of senior management positions. While the company will incur a charge related to severance packages, the annualized cost savings are expected to exceed the one-time charge.
About Compass Minerals
Based in the Kansas City metropolitan area, Compass Minerals is a leading producer of minerals, including salt, sulfate of potash specialty fertilizer and magnesium chloride. The company provides highway deicing salt to customers in North America and the United Kingdom and specialty fertilizer to growers worldwide. Compass Minerals also produces consumer deicing and water conditioning products, ingredients used in consumer and commercial foods, and other mineral-based products for consumer, agricultural and industrial applications. Compass Minerals also provides records management services to businesses throughout the U.K. For more information, 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" sections of our 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.
Peggy Landon, 913-344-9315
Director of Investor Relations and
KEYWORDS: United States North America Kansas
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