(Adds comment about stake decision, background on SQM)
By Rod Nickel
NEW YORK May 18 Governance changes at Chile
lithium producer SQM, which give shareholder Potash
Corp of Saskatchewan greater influence, do not reflect
any intent by Potash to raise its stake, Potash Corp's chief
executive said on Thursday.
Three top shareholders in SQM have agreed to change the way
board decisions are made at the global supplier of lithium, a
move that will see controlling shareholder Julio Ponce cede some
power and Canada's Potash Corp gain more say.
"It doesn't demonstrate any intention," CEO Jochen Tilk told
Reuters in New York. "We'll move forward on improved governance
and that's really all that there is at this point - no
reflection on any further strategic thinking."
Potash Corp holds just over 30 percent of SQM and has three
board seats. Tilk has previously said it is reviewing whether to
increase or divest that stake, and shares in three other
Those decisions will be made after a planned merger between
Potash and Agrium Inc, which is scheduled to close in
mid-2017, Tilk said.
(Reporting by Rod Nickel in New York, editing by G Crosse and