JERUSALEM Aug 17 Fertiliser and specialty
chemicals maker Israel Chemicals named Stefan Borgas
as president and chief executive officer, effective Sept. 20.
Borgas, a former CEO of Swiss drug industry supplier Lonza
, will replace Akiva Mozes - ICL's president and CEO
for the past 13 years and who will leave following 37 years with
the company to be chairman of Israeli group Oil Refineries
Lonza ousted Borgas in January after 2011 profit plunged a
third. Borgas also serves as a director of Syngenta,
while he also had senior positions over 14 years as BASF
Under Mozes, ICL became the world's sixth-largest potash
producer and the second largest company traded on the Tel Aviv
Stock Exchange with a market value of about $15 billion.
On Wednesday, ICL - which produces a third of the world's
bromine - reported quarterly net profit of $407 million on
revenue of nearly $2 billion.
Canadian group Potash Corp, the world's largest
fertiliser producer, owns 13.9 percent of ICL, which is
controlled by conglomerate Israel Corp.