PLYMOUTH, Minn. -- The Mosaic Company (NYSE: MOS) today announced that it intends to move its corporate headquarters, including senior executives and related functions, to Hillsborough County, Florida. Details of the move, including timing, the exact location of the corporate office and the number of employees to be relocated, remain under consideration.
The move is expected to yield several benefits:
- Closer proximity and better access to Mosaic Fertilizantes. The company’s recent acquisition of Vale Fertilizantes doubled the size of its workforce, significantly increased its presence in Brazil, and reinforced the importance of keeping Americas-based business units more closely connected to corporate teams;
- A continued focus on the potash business with little impact on accessibility for leaders and team members;
- Opportunities to amplify Mosaic’s presence in Central Florida and engage more closely with communities where the company operates, and
- Significant long-term cost savings.
“Mosaic is among the largest employers and most significant corporate economic drivers in Central Florida,” said President and CEO Joc O’Rourke. “We believe locating our corporate office there will give us opportunities to amplify Mosaic’s presence and engage more closely with communities where we operate. With the cost savings we expect to achieve and the closer proximity to our Mosaic Fertilizantes business in Brazil, this move will drive improved efficiency and good value.”
The move will allow Mosaic to reconsider its U.S. office footprint, including its spaces in Plymouth, Minnesota, as well as its FishHawk and Highland Oaks locations in Florida. As a result of the company’s transformation over the past several years, excess capacity exists at those locations.
“We will execute this move with as little disruption as possible and with sensitivity to our employees’ personal situations,” Mr. O’Rourke said. “Mosaic is fortunate to have a deeply talented workforce, and we fully intend to maintain that competitive advantage.”
About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single-source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry. More information on the company is available at www.mosaicco.com.