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    Mosaic Co (MOS)

    CFO Change
    Board Change

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    The Mosaic Company is a leading producer and marketer of concentrated phosphate and potash crop nutrients, serving customers in approximately 40 countries . The company operates through three main business segments: Phosphates, Potash, and Mosaic Fertilizantes, producing and selling crop nutrients, animal feed ingredients, and industrial products . Mosaic accounts for approximately 12% of global annual phosphate production and 13% of global annual potash production .

    1. Potash - Operates mines and production facilities in Canada and the U.S., producing potash-based crop nutrients, animal feed ingredients, and industrial products. Sells Canadian potash outside the U.S. and Canada through Canpotex .
    2. Phosphates - Includes mines and production facilities in Florida and Louisiana, a 75% interest in the Miski Mayo Phosphate Mine in Peru, and a 25% interest in the Ma’aden Wa’ad Al Shamal Phosphate Company in Saudi Arabia. Produces phosphate crop nutrients and animal feed ingredients .
    3. Mosaic Fertilizantes - Primarily operates in Brazil, including five phosphate rock mines, four chemical plants, and a potash mine, along with distribution operations in South America .
    4. Crop Nutrient Blends - Offers a variety of blended crop nutrient products tailored to specific agricultural needs .
    5. Performance Products - Provides specialized products designed to enhance agricultural productivity and efficiency .
    NamePositionStart DateShort Bio
    Philip E. BauerSenior Vice President, General Counsel, and Corporate SecretaryJanuary 2023Philip E. Bauer has been with Mosaic since 2007, managing legal support for various business activities. He was promoted to his current position in January 2023. Before joining Mosaic, he was a partner at an international law firm .
    Bruce M. Bodine Jr.Chief Executive Officer, President, and DirectorJanuary 2024 (CEO)Bruce M. Bodine Jr. was appointed CEO in January 2024 and President in August 2023. He has been a Director since 2023 and has extensive experience in the mining industry, having been with Mosaic since its formation in 2004 .
    Clint C. FreelandExecutive Vice President and Chief Financial OfficerNovember 2023Clint C. Freeland joined Mosaic as Senior Vice President and CFO in June 2018 and was promoted to Executive Vice President and CFO in November 2023. He will resign from this position on December 31, 2024, and continue as a Senior Advisor until his retirement in July 2025 .
    Walter F. Precourt IIISenior Vice President and Chief Administrative OfficerNovember 2023Walter F. Precourt III joined Mosaic in 2009 and has held various leadership positions. He was elected to his current role in November 2023, overseeing Human Resources, Public Affairs, Procurement, and Shared Services .
    Corrine D. RicardSenior Vice President - Digital StrategyJanuary 2024Corrine D. Ricard has held various leadership roles at Mosaic and was elected as Senior Vice President - Digital Strategy in January 2024. She transitioned to Senior Advisor on October 1, 2024, and is expected to retire at the end of 2024 .
    Karen A. SwagerExecutive Vice President - OperationsNovember 2023Karen A. Swager was elected as Executive Vice President - Operations in November 2023. She is responsible for enterprise-wide operations, including EHS and the North America Supply Chain organization. She has held various leadership positions at Mosaic .
    Yijun ("Jenny") WangExecutive Vice President - CommercialJanuary 2024Yijun ("Jenny") Wang was elected as Executive Vice President - Commercial in January 2024. She has held several strategic marketing roles at Mosaic and serves on the Board of Directors of Canpotex Limited .
    Luciano Siani PiresExecutive Vice President and Chief Financial OfficerJanuary 1, 2025Luciano Siani Pires will assume the role of Executive Vice President and CFO on January 1, 2025. He joined Mosaic as CFO Designate on November 18, 2024, and has previously held leadership positions at Vale S.A. He served on Mosaic's Board of Directors from 2018 to 2022 .
    1. Given the repeated operational challenges due to hurricanes and electrical issues affecting your phosphate production, how confident are you in achieving the annualized run rate of 7.8 to 8.2 million tons by year-end, and what specific measures are you implementing to mitigate future weather-related disruptions?

    2. With the recent improvement in Brazilian farmer economics and activity, how sustainable do you believe this recovery is considering the past headwinds from commodity prices and credit constraints, and what strategies are you employing to mitigate ongoing credit risks in this key market?

    3. Despite supply from Russia and Belarus returning to pre-war levels, you mentioned that potash prices have likely hit bottom and are beginning to trend higher. What gives you confidence in a price recovery, and how would prolonged low potash prices impact your financial performance and strategic plans?

    4. You've initiated a strategic review of your Carlsbad New Mexico potash mine and are converting your MWSPC joint venture into Ma'aden's shares valued at $1.5 to $1.6 billion. Can you elaborate on your capital allocation priorities, and how do these actions align with your long-term growth strategy, especially in light of recent operational challenges and the need for cost reductions?

    5. Mosaic Biosciences is highlighted as a rapidly growing segment, covering 9 million acres and positioned as a future growth engine. Could you provide more details on its current revenue contribution and profitability, and what level of investment is required to scale this business meaningfully within your overall operations?

    Program DetailsProgram 1Program 2
    Approval DateSecond quarter of 2022 July 31, 2022
    End Date/DurationCompleted by July 31, 2022 No set expiration date
    Total additional amount$1.0 billion $2.0 billion
    Remaining authorization$0 (completed) $957,429,576 as of September 30, 2024
    DetailsCompleted Ongoing, various methods
    YearAmount Due (Millions)Debt TypeInterest Rate (%)% of Total Debt
    2024751.7Short-term debtN/A18.5% = (751.7 / 4064.4) * 100
    2024115.3Current maturities of long-term debtN/A2.8% = (115.3 / 4064.4) * 100
    2033500.010-year senior unsecured term loanVariable (SOFR + spread)12.3% = (500.0 / 4064.4) * 100
    CustomerRelationshipSegmentDetails
    Canpotex
    Significant potash distribution channel
    Potash
    2023 Revenue: $1.3B (~9.5% of total net sales of $13.6961B)<br>Accounts Receivable as of 12/31/2023: $193.1M (~15.2% of total AR of $1,269.2M)
    NameStart DateEnd DateReason for Change
    KPMG LLP2004PresentCurrent auditor

    Recent developments and announcements about MOS.

    Corporate Leadership

      Board Change

      ·
      Jan 13, 2025, 10:49 PM

      Key Update: On January 13, 2025, The Mosaic Company (MOS) elected Sonya C. Little and Kathleen M. Shanahan to its Board of Directors. Ms. Little will serve on the Audit Committee, and Ms. Shanahan will serve on the Compensation and Human Resources Committee.

      CFO Change

      ·
      Nov 13, 2024, 12:00 AM

      On November 8, 2024, Mr. Clint C. Freeland, the Executive Vice President and Chief Financial Officer (CFO) of The Mosaic Company, announced his intention to retire in 2025. He will resign as CFO effective December 31, 2024, and will continue as a Senior Advisor until his retirement on July 1, 2025. Mr. Luciano Siani Pires has been appointed as the new CFO, effective January 1, 2025 .