FMC Corporation recently announced that its board of directors elected Mark Douglas as president and chief executive officer of FMC, effective June 1. Pierre Brondeau will continue to serve as chairman and CEO through May 31, at which time he will become executive chairman and remain a member of the board.
Douglas “has been a trusted partner during a period of significant change,” Brondeau said. “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.”
Vincent Volpe, lead independent director on the FMC board, said 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 said. “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 percent; nearly 90 percent reduction in the company's recordable injury rate; and the transformation into a leading, global crop protection innovator.”
Douglas is already FMC president and CEO-elect. 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 annual meeting of stockholders.