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WINNIPEG, Manitoba (Reuters) - Investors expect the new chief executive of Canada s Nutrien Ltd to swing deals as part of a more aggressive growth strategy, after an abrupt shake-up at Canada s biggest agriculture company.
Nutrien, the world s biggest fertilizer producer by capacity, surprised shareholders on Sunday by promoting its chairman, Mayo Schmidt, to CEO, replacing Chuck Magro, who had led the company since it formed from Agrium s 2018 merger with Potash Corp.
Schmidt, raised on a Kansas farm, is best known for leading the Saskatchewan Wheat Pool grain cooperative s acquisition of competitor Agricore United in 2007, creating Viterra Inc, one of Canada s biggest grain handlers. He subsequently bought Australia s ABB Grain before leading the sale of Viterra to commodity trader Glencore PLC in 2012.