Compass Minerals Bolsters Board’s Financial Expertise Through Appointment of Richard Dealy as Independent Director

Rhea-AI Summary

Compass Minerals (NYSE: CMP) announced the appointment of Richard P. Dealy to its board of directors, expanding the board from eight to nine members. Dealy, who has extensive financial and operational experience, currently serves as president and COO of Pioneer Natural Resources. His background includes 16 years as EVP and CFO at Pioneer. This addition is expected to enhance the company's focus on growth, particularly in lithium and fire retardants, as stated by board chairman Joe Reece.

Positive

• Dealy's extensive financial and operational expertise may provide fresh perspectives to the board.
• The appointment aligns with the company's growth strategy into lithium and fire retardant markets.

Negative

• No immediate concerns regarding continuity or experience gaps were noted.

OVERLAND PARK, Kan.--(BUSINESS WIRE)-- Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, today announced the appointment of Richard P. Dealy to the company’s board of directors. In addition to deep financial expertise, Dealy brings broad operational and leadership experience to the board.

Richard P. Dealy, newly appointed independent director for Compass Minerals (NYSE: CMP) (Photo: Business Wire)

“Rich has a proven track record of strong financial stewardship and value creation,” said Joe Reece, non-executive chairman of the board. “We look forward to benefiting from his knowledge and experience as we continue our growth efforts into the strategic, adjacent markets of lithium and fire retardants.”

Dealy currently serves as president and chief operating officer of Pioneer Natural Resources, an independent oil and gas exploration and production company. Prior to that role, which he has held since January 2021, Dealy spent 16 years as Pioneer’s executive vice president and chief financial officer, directing the corporate finance, accounting, treasury, budget and planning, supply chain and marketing functions of the company. He previously held finance positions of increasing responsibility at both Pioneer and its predecessor company, Parker & Parsley Petroleum Company. Dealy began his career as an auditor with KPMG LLP.

A certified public accountant, Dealy earned a Bachelor of Business Administration in accounting and finance from Eastern New Mexico University.

Dealy has been appointed to the Audit Committee and the Compensation Committee of the board. With Dealy’s appointment, the board of directors has expanded from eight members to nine.

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, the company is pursuing development of a sustainable lithium brine resource to support the North American battery market and is a minority owner of Fortress North America, a next-generation fire retardant company. 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 within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements about the company's growth efforts. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220509006089/en/

Media Contact

Rick Axthelm

Chief Public Affairs and Sustainability Officer

+1.913.344.9198

MediaRelations@compassminerals.com

Investor Contact

Douglas Kris

Senior Director of Investor Relations

+1.917.797.4967

krisd@compassminerals.com

Source: Compass Minerals

FAQ

Who is Richard P. Dealy and what is his role in Compass Minerals?

Richard P. Dealy has been appointed to the board of directors of Compass Minerals and serves as president and COO of Pioneer Natural Resources.

What changes have occurred in Compass Minerals' board of directors?

The board has expanded from eight to nine members with the addition of Richard P. Dealy.

What expertise does Richard P. Dealy bring to Compass Minerals?

Dealy brings strong financial stewardship and leadership experience, having served as EVP and CFO at Pioneer Natural Resources.

How might Richard P. Dealy's appointment impact Compass Minerals?

His appointment could enhance decision-making and strategic focus, particularly in lithium and fire retardant markets.