Shares of the company fell 1.7% premarket.
The company also appointed Luciano Siani Pires as its new Chief Financial Officer, who will start from Jan. 1. Pires succeeds Freeland who is retiring from his role as executive vice president and CFO, but will continue as a senior advisor until July 1.
Siani Pires was the group finance chief of Brazilian miner Vale for nearly a decade and also served on Mosaic’s board for more than four years until August 2022, according to his profile at the professional networking platform LinkedIn.
His appointment follows the tenth successive quarter where the Tampa, Florida-based company failed to beat market estimates, according to data compiled by LSEG.
Mosaic said its third-quarter net sales declined 21% compared with a year earlier to $2.81 billion, weighed down by lower potash prices. Analysts expected net sales of $3.16 billion.
Global potash prices have been…
