FMC Corporation announced that its Board of Directors has elected Mark Douglas as president and chief executive officer of FMC, effective June 1, 2020. Pierre Brondeau will continue to serve as chairman and CEO through May 31, 2020, at which time he will become executive chairman and remain a member of the Board of Directors.
“Mark has been elected following the Board’s careful and thorough assessment of the experience, track record and leadership qualities needed to lead FMC,” says Brondeau. “He has been a trusted partner during a period of significant change. During the last decade, Mark has been engaged on every major decision and strategic action we pursued to transform FMC into a high growth agricultural sciences company. His more than 30 years of global business and operational experience in the chemical industry, including most of the last 10 years leading FMC’s agricultural business, makes him ideally suited as our next CEO.”
“I am honored to be elected president and CEO of this great company,” says Douglas. “Pierre, along with our management team and more than 6,500 employees, have transformed FMC into an agricultural sciences leader. I look forward to working with our leadership and the Board as we drive the full potential of FMC and continue delivering industry-leading performance that customers, shareholders and employees expect from us.”
Vincent Volpe, lead independent director on the FMC Board, says the company’s performance and business results during Brondeau’s tenure have been dramatic.
“Upon his arrival in 2010, Pierre saw the significant growth potential of FMC and charted a new course that would eventually transform the company. His vision reshaped nearly every aspect of the enterprise, including the business portfolio, operating structure, and a culture of high performance,” Volpe says. “A decade of results speak for themselves: More than a dozen acquisitions and divestitures; two of the largest transactions in company history, including the 2017 acquisition of a majority of DuPont’s crop protection assets; total shareholder return of more than 325%; nearly 90% reduction in the company’s recordable injury rate; and the transformation into a leading, global crop protection innovator. The Board looks forward to Pierre’s guidance as executive chairman, and we know that as CEO, Mark will continue to lead FMC with the conviction, passion and strategic foresight that have guided the company’s success.”
Douglas becomes FMC president and CEO-elect, effective today. He will work with Brondeau and the Board during the next five months on an orderly transition. The Board expects to nominate Douglas for election as a Board director at the April 2020 annual meeting of stockholders.
