Mr. Barry Rosenstein of Jana reports
JANA PARTNERS RELEASES NEW VIDEO FOR AGRIUM SHAREHOLDERS
Agrium Inc. dissident Jana Partners today posted a new
video presentation on its website in which all five of its director nominees address the substantial
opportunity to unlock unrealized value for all shareholders of Agrium.
"We encourage every Agrium shareholder to hear our nominees walk through
the value-creation potential they see at Agrium and describe how they
can apply their skills and experience to help realize that value," said
Jana Partners managing partner Barry Rosenstein.
Board nominees David Bullock, Mitchell Jacobson and Stephen Clark have
created billions of dollars of value at distribution companies that
Agrium has cited as peers for its retail business, while board nominee
Lyle Vanclief served Canada as the Minister of Agriculture and ran a
commercial farm before that and can help bring the voice of Agrium's
farmer customers into the boardroom. Board nominee Barry Rosenstein is
the founder and managing partner of Jana Partners and has a long record of working to unlock value at companies, typically by working
constructively with boards and management.
In the new video presentation, the nominees discuss the following areas
of opportunity at Agrium, referred to as the five Cs:
Cost management: Reviewing retail costs and corporate costs
Improving disclosure and better aligning incentives with
Capital allocation: Enacting a more consistent and shareholder-friendly
capital return policy
Conglomerate structure: Conducting a fair and unbiased structural
review to address Agrium's persistent valuation discount
Corporate governance: Addressing Agrium's insular and entrenched
responses to new ideas
More information, including full biographies of Jana's independent
nominees, can be found at the Jana website.
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