The company said Johns will step down as managing director and chief executive and be replaced by Incitec’s chief financial officer Paul Victor while the board searches for a permanent replacement.Michael Quelch
The company’s chief of staff Liza Somers, who has been with Incitec for a decade in key leadership positions in the finance team, has been appointed as interim chief financial officer. Disappointing earnings in its latest half-year result saw Incitec’s share price slump and increased pressure on Johns, who has undertaken a major process to simplify the business in a bid to set it up for longer-term success.
S&P Global ratings agency said earlier this year that while the split would make Incitec operationally less volatile, splitting off the explosives business and selling the ammonia plant would lessen the company’s scale of operations and earnings diversity.