CF Industries names two to board of directors

Business Wire

DEERFIELD - CF Industries Holdings' board of directors has elected John W. Eaves, chief executive officer of Arch Coal Inc., and Michael J. Toelle, owner of T&T Farms and former board chairman of CHS, Inc., as independent directors of the company.

The elections bring membership of the board of directors to 12. They are expected to stand for re-election by stockholders at the company's 2018 annual meeting.

Eaves, 59, has served as chief executive officer of Arch Coal, a top coal producer for the global steel and power generation industries, since 2012 and has been a member of its board of directors since 2006. He has more than 30 years of experience in the coal industry. During his tenure with Arch Coal, he has held positions of president and chief operating officer; senior vice president of marketing; and vice president of marketing and president of Arch Coal Sales, the company's marketing subsidiary. Mr. Eaves joined Arch Coal in 1987 after serving in various marketing-related positions at Diamond Shamrock Coal Company and Natomas Coal Company.

He serves on the boards of the National Association of Manufacturers and the National Mining Association. He is a graduate of the Advanced Management Program at Harvard University, and he holds a bachelor's degree from the University of Kentucky.

Toelle, 55, is the owner of T & T Farms, a diversified farming company, and has been a member of Nationwide Mutual Insurance Company's board of directors since 2013. He is a former board chairman and longtime board member of CHS, Inc., the largest cooperative business in the United States. He also served as a board member for Cenex, Inc., before it merged with Harvest States Cooperatives to create CHS in 1998.

Toelle is past chairman of the CHS Foundation and previously served as a director for the Agricultural Council of America and Country Partners Cooperative. He is a member of the National Association of Corporate Directors.

"We are pleased to welcome John and Michael to the CF Industries' Board," said Stephen A. Furbacher, chairman of the board, CF Industries Holdings, Inc. "John's extensive knowledge of the global coal industry and Michael's deep agricultural experience, along with their demonstrated leadership and understanding of commodity cycles, will benefit the Board and our management team greatly. We look forward to their insights and perspectives as we work together to create long-term value for our stockholders."