Incitec Pivot (ASX:IPL) has announced that after almost 8 years in the role, James Fazzino will be stepping down as Managing Director and CEO.
The fertilizer giant has paid tribute to Mr Fazzino, saying he was responsible for transforming Incitec Pivot from a fertilizer business to a global diversified industrial chemicals company.
Mr Fazzino will remain at Incitec Pivot for a period of up to 12 months, until the company appoints a successor.
The board has commenced a global search for a replacement for Mr Fazzino.
Incitec Pivot reported a net profit of $129.4 million at 30 September 2016.