Vance Holtzman Elected to Compass Minerals Board of Directors

Rhea-AI Summary

Compass Minerals (NYSE: CMP) appoints Vance O. Holtzman to its board of directors, representing Koch Industries Inc. Holtzman brings financial expertise and experience in extractive industries. The board now consists of eight members.

OVERLAND PARK, Kan.--(BUSINESS WIRE)-- Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, today announced the election of Vance O. Holtzman to the company’s board of directors at its fiscal 2024 annual meeting of shareholders. Holtzman was nominated for appointment by Koch Industries Inc. (Koch), pursuant to the terms of the strategic equity investment in Compass Minerals in 2022 by Koch Minerals and Trading LLC (KM&T), a Koch subsidiary.

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Vance O. Holtzman, newly elected director for Compass Minerals (NYSE: CMP) (Photo: Business Wire)

“Vance brings to our board proven financial expertise and considerable experience working with extractive companies like ours. I’m excited for his input and collaboration as we continue our efforts to optimize production and drive sustainable free cash flow,” said Joe Reece, non-executive chairman of the board. “I would also like to thank Jon Chisholm and Jill Gardiner for the contributions they each made during their respective tenures of service on our board.”

Holtzman currently serves as the senior vice president of investments at KM&T. Prior to that position, which he has held since 2018, he served in a number of other roles of increasing responsibility at Koch Minerals (KM&T’s predecessor), including as chief financial officer. Before joining Koch, Holtzman was a relationship manager at Cullen Frost Bank. He is currently a member of the board of directors of KOMSA, PQ Corporation and Hybar LLC.

Holtzman earned a Bachelor of Science in business administration from the University of Kansas and a Master of Business Administration in energy finance from the University of Texas.

Former board members Jon Chisholm and Jill Gardiner did not stand for reelection at the annual meeting. With these changes, the board of directors is now eight members.

About Compass Minerals

Compass Minerals (NYSE: CMP) is a leading global provider of essential minerals focused on safely delivering where and when it matters to help solve nature’s challenges for customers and communities. The company’s salt products help keep roadways safe during winter weather and are used in numerous other consumer, industrial, chemical and agricultural applications. Its plant nutrition products help improve the quality and yield of crops, while supporting sustainable agriculture. Additionally, its next-generation, long-term fire retardant products provide a more innovative and environmentally friendly option in the fight against wildfires. Compass Minerals operates 12 production and packaging facilities with nearly 2,000 employees throughout the U.S., Canada and the U.K. Visit compassminerals.com for more information about the company and its products.

Forward Looking Statements

This press release may contain forward-looking statements, including, without limitation, statements about the company's efforts to optimize production and drive sustainable free cash flow. These statements are based on the company’s current expectations and involve risks and uncertainties that could cause the company’s actual results to differ materially. The differences could be caused by a number of factors including those factors identified in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the company’s Annual and Quarterly Reports on Forms 10-K and 10-Q, including any amendments, as well as the company’s other SEC filings. The company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments, except as required by law.

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Media Contact

Rick Axthelm

Chief Public Affairs and Sustainability Officer

+1.913.344.9198

MediaRelations@compassminerals.com

Investor Contact

Brent Collins

Vice President, Investor Relations

+1.913.344.9111

InvestorRelations@compassminerals.com

Source: Compass Minerals

Who was recently elected to Compass Minerals' board of directors?

Vance O. Holtzman was recently elected to Compass Minerals' board of directors.

Who nominated Vance O. Holtzman for appointment to the board?

Koch Industries Inc. nominated Vance O. Holtzman for appointment to the board.

What is Vance O. Holtzman's current position at Koch Industries Inc.?

Vance O. Holtzman currently serves as the senior vice president of investments at Koch Minerals and Trading LLC (KM&T).

What experience does Vance O. Holtzman bring to Compass Minerals' board?

Vance O. Holtzman brings proven financial expertise and experience working with extractive companies to Compass Minerals' board.

What changes occurred in Compass Minerals' board of directors after the annual meeting?

Former board members Jon Chisholm and Jill Gardiner did not stand for reelection, resulting in the board consisting of eight members.