Compass Minerals Announces Additions to Board of Directors
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Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.OVERLAND PARK, Kan. — Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, today announced the company’s board of directors (the board) appointed four new directors as part of a board refreshment initiative.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.Joe Reece, non-executive chair of the board, commented, “The addition of these directors further enhances the expertise on the board to support the company as it focuses on its core Salt and Plant Nutrition businesses. Importantly, the additions bring more specific domain expertise to support the company’s back-to-basics strategy. They bring deep knowledge and experience in industrial and manufacturing businesses, and in some cases have direct experience in the salt and plant nutrition industries. I’m confident that they will complement our board and leadership team and help accelerate the progress being made to improve the performance and profitability of the business.”Compass Minerals has expanded the size of its board from eight to 12 directors to accommodate these appointments.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.In addition to the new board appointments, the board has established an additional committee, the Capital Allocation and Technical (CAT) Committee, to further support the focus on the company’s core business operations.The newly appointed directors were identified and selected in connection with a search process conducted by the Nominating/Corporate Governance (NCG) Committee, with the assistance of a third-party search firm.Below are brief biographies of the newly appointed directors:Current directors representing the company’s largest shareholder, Koch Minerals & Trading, LLC, a subsidiary of Koch, Inc. (Koch), Vance Holtzman and Shane Wagnon are expected to complete their current term on the board and do not intend to stand for reelection at the company’s 2026 annual meeting. In a statement from Mr. Holtzman and Mr. Wagnon, “Koch is supportive of the back-to-basics strategy being pursued by Compass Minerals and the associated focus on advancing organizational and operational efficiencies, improving profitability, and deleveraging the balance sheet. While Koch has a contractual right to appoint representatives to the Compass Minerals board, Koch has determined that it is appropriate to not stand for reelection at the next annual meeting, given the extremely strong board slate identified through this search process. We believe the skillsets and experiences of the incoming directors align well with the company’s strategy. Koch remains a large shareholder and will continue to evaluate opportunities to assist and support the company in areas where our capabilities can provide mutual benefit.”The company expects to reduce the size of the board to nine directors, effective at the 2026 annual meeting.Consistent with the company’s governance guidelines regarding term limits, Lori Walker, the current Audit Committee chair and a board member since 2015, will not stand for reelection at the company’s 2026 annual meeting. The board wishes to thank Ms. Walker for her service and contributions to Compass Minerals.To facilitate an orderly transition in the coming year, the current non-executive board chair Joe Reece will stand for reelection at the company’s 2026 annual meeting and is then expected to transition from the role at some point during the fiscal year, at which point it is expected that he would step off the board and that the company would reduce the size of the board to eight directors.Compass Minerals (NYSE: CMP) is a leading global provider of essential minerals focused on safely delivering where and when it matters to help solve nature’s challenges for customers and communities. The company’s salt products help keep roadways safe during winter weather and are used in numerous other consumer, industrial, chemical and agricultural applications. Its plant nutrition products help improve the quality and yield of crops while supporting sustainable agriculture. Compass Minerals operates 12 production and packaging facilities with more than 1,800 employees throughout the U.S., Canada and the U.K. Visit compassminerals.com for more information about the company and its products. https://www.businesswire.com/news/home/20251218311390/en/ContactsBrent CollinsVice President, Treasurer & Investor Relations+1.913.344.9111Kevin GabrielSenior Director, Corporate Affairs+1.913.344.9265#distroPostmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.