Mosaic elevates Walter Precourt to EVP-Operations as Karen Swager plans retirement

The Mosaic Company (NYSE: MOS) is reshuffling its operations leadership: Karen A. Swager will step down as executive vice president – operations effective Dec. 1, 2026, and Walter F. Precourt, III will take that post the same day, according to a Form 8-K accepted after the close on Sept. 24. Shares traded near $23.15 Friday afternoon, down about 2.3% on the session and about 7.5% year to date.

On Sept. 23, 2026, Swager informed Mosaic of her intention to retire. She will resign as EVP-Operations on Dec. 1, then continue as a senior advisor until retirement in the second quarter of 2027. The filing said she will keep her current cash compensation and remain eligible for benefit plans generally available to management-level employees through the rest of her employment.

The board appointed Precourt, age 62, as EVP-Operations effective Dec. 1, 2026. Upon his first day in that role, Mosaic’s Compensation and Human Resources Committee approved a $710,000 base salary; a 2027 Management Incentive Plan target bonus equal to 85% of base salary earned that year; and a long-term incentive award valued at $1,725,000 on the grant date (based on Mosaic’s NYSE closing price that day), split 40% restricted stock units and 60% total shareholder return performance units. The committee also approved a one-time RSU promotional award with a $300,000 grant-date fair value vesting 33%, 33%, and 34% on the first, second, and third anniversaries of the grant, plus continuation of Mosaic’s executive severance and change-in-control agreement form used for non-CEO officers.

Precourt has been senior vice president and chief administrative officer since Nov. 1, 2023, with responsibility for human resources, public affairs, procurement, and shared services, the 8-K said. He joined Mosaic in 2009 and previously served as senior vice president—strategy and growth, senior vice president—phosphates, senior vice president—potash operations, and led the environment, health and safety organization. Before Mosaic, he led Holcim (U.S.)’s safety transformation and later became its vice president of environment and government affairs, and earlier held operations, technology, capital project management, and EHS roles at The Dow Chemical Company. He holds a B.S. in civil engineering from Worcester Polytechnic Institute, an M.S. in environmental and water resources engineering from Vanderbilt University, and an MBA from the University of North Carolina-Chapel Hill.

By the numbers

• Swager EVP-Operations exit: Dec. 1, 2026
• Swager retirement: second quarter of 2027
• Precourt EVP-Operations start: Dec. 1, 2026
• Precourt base salary: $710,000
• 2027 MIP target: 85% of base
• LTI award value: $1,725,000 (40% RSUs / 60% TSR units)
• Promotional RSU award: $300,000 (33/33/34 vest)

Sources

1. The Mosaic Company Form 8-K, accession 0001285785-26-000125 (Item 5.02)
2. The Mosaic Company Form 8-K Exhibit 99.1 (offer letter to Walter F. Precourt, III)

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