The Financial Post reports in its Friday edition that Nutrien named a new chief financial officer amid an industry downturn that has eroded the company's profits. A Bloomberg dispatch to the Post reports that Mark Thompson, who has been with Nutrien since 2011 and is serving as chief commercial officer, assumes his new role Aug. 26. He is set to replace Pedro Farah as part of Nutrien's succession plan. Nutrien presented a mixed outlook Aug. 7 in its latest earnings report. Second quarter net income beat the average analyst estimate amid higher fertilizer sales. Nutrien raised its full-year outlook for global potash demand. The leadership change comes as the fertilizer industry faces lower grain prices that threaten to make crop nutrients less affordable for farmers. Nutrien and other fertilizer producers have contended with extreme market volatility over the past few years. Russia's 2022 invasion of Ukraine roiled global supply chains and pushed prices -- and Nutrien earnings -- to record highs. Yet demand then tumbled as growers and retailers eschewed the sticker shock. Nutrien cut its full-year outlook for adjusted retail earnings to a range of $1.5-billion to $1.7-billion, below the average analyst estimate.