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Nutrien CEO Chuck Magro won’t be moving to Saskatoon, but two other high-level executives will be.
Magro addressed concerns about where Nutrien is headquartered during a speech Thursday for the Saskatoon Chamber of Commerce at the Delta Marriott hotel in downtown Saskatoon.
“We don’t have one global headquarters where all the bigwigs are in one spot. That was never the intent, it’s inefficient and it’s not our culture,” he said.
Rather, Magro said the company is run out of hubs in Calgary, Saskatoon and Loveland, Colo., a suburb of Denver. He said this reflected the company’s interests outside of potash since it formed out of the merger between Potash Corporation of Saskatchewan and Agrium.
“We place our executives where it makes the most business sense. Like every other company that is publicly traded and competes globally, this can be and will be no exception,” he said.
The company’s potash operations are still headquartered entirely in Saskatchewan, along with various corporate functions in the legal, marketing and finance departments. Magro noted fully a third of the company’s vice-presidents live and work in Saskatchewan.
However, executive vice-president and CEO of potash Susan Jones is the only top-level manager reporting directly to Magro who currently calls the Bridge City home.
Magro said that would change when two more as-yet unnamed executives move to Saskatoon by the end of the year.
“We felt that it was important that the people of Saskatchewan understand that we do have a plan, and it’s been the plan all along to have two to three senior leaders — in this case, three — in each of our major hubs.”
Magro also addressed why he won’t re-locate to Saskatoon himself, admitting it was a decision made for family reasons rather than a business consideration.
“When my children got to high school, so grade 10, 11 and 12, I told them that wherever they are, they’re going to finish high school in that school,” he said, noting he had changed jobs 24 times in 25 years and moved extensively during his rise to becoming Nutrien CEO.
Saskatchewan Justice Minister Don Morgan spoke on behalf of the provincial government following Magro’s remarks.
He said two more executives was a good start, but Nutrien remains bound by a provincial law requiring PotashCorp and any successor company to be headquartered in Saskatchewan.
“We know that the corporation has had a significant change and that it’s now got the partnership and they’ve got other interests that are elsewhere. But they also have both a legal and, we think, a moral obligation to the province of Saskatchewan.”
Morgan said the province would continue having talks with Nutrien and would be watching the company’s next moves over the next few months.