The Mosaic Company (MOS, Financial) has announced a significant change in its executive leadership team. On November 8, 2024, Clint C. Freeland, the current Executive Vice President and Chief Financial Officer, informed the company of his intention to retire in 2025. Mr. Freeland will step down from his current role effective December 31, 2024, and will continue to serve as a Senior Advisor until his retirement on July 1, 2025.
In light of Mr. Freeland's upcoming departure, Mosaic's Board of Directors has appointed Luciano Siani Pires as the Executive Vice President and Chief Financial Officer - Designate, effective November 18, 2024. Mr. Siani Pires will officially assume the role of Executive Vice President and Chief Financial Officer on January 1, 2025.
Mr. Siani Pires brings a wealth of experience to Mosaic, having served as an independent consultant and advisor in the mining industry, including a previous advisory role with Mosaic. His extensive background includes leadership positions at Vale, S.A., where he was the Executive Vice President of Strategy and Business Development and Chief Financial Officer.
Upon joining Mosaic, Mr. Siani Pires will receive a base salary of $650,000, with a target bonus under Mosaic’s Management Incentive Plan (MIP) for 2024 set at 75% of his base salary. Additionally, he will be granted a long-term incentive award valued at $1,000,000, comprising restricted stock units and total shareholder return performance units. His compensation will be adjusted upon assuming the CFO role, with a base salary increase to $800,000 and a target bonus of 90% of his base salary. The long-term incentive award for March 2025 is set at $2,500,000.
This leadership transition marks a new chapter for Mosaic as it continues to strengthen its executive team with experienced industry professionals. Investors and stakeholders will be keenly observing how Mr. Siani Pires's strategic vision and financial acumen will contribute to Mosaic's growth and success.
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