Potash Corp representatives resign from SQM board as scandal deepens

Wed Mar 18, 2015 8:03am EDT
 
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SANTIAGO, March 18 (Reuters) - Chilean fertilizer group SQM said on Wednesday that the three representatives on its board from Canadian stakeholder Potash Corp had resigned on Tuesday evening, although the company did not say why.

Potash owns an approximate 32 percent stake in the dual share structure of SQM , which has rights to some of the world's biggest nitrates and lithium reserves.

As a result, it has the right to three of the eight voting seats on the board.

SQM has been embroiled in an election campaign financing scandal in Chile and fired its chief executive on Tuesday. (Reporting by Rosalba O'Brien)