May 14 (Reuters) —Mosaic plans to buy back $1.5 billion in shares, likely during the next two to three years.
The new buyback includes an accelerated share repurchase agreement worth $500 million, to be completed by the end of September, the company said. It would cancel the remaining amount under the current repurchase authorization from its board.
Mosaic also announced chief executive officer Jim Prokopanko would be succeeded by chief operating officer Joc O’Rourke in August.
