Farmers Business Network, Inc. Adds David Delaney To Board
Former Potash Corp COO David Delaney to further the FBN℠ network’s tremendous growth and help farmers
SAN CARLOS, Calif. – May 17, 2018 – Farmers Business Network℠, the independent farmer-to-farmer network, has added longtime and respected industry veteran David Delaney to the company’s Board of Directors.
Delaney most recently served as the EVP and Chief Operating Officer at PotashCorp (now Nutrien Ltd.), the world’s largest fertilizer company by capacity, where he was responsible for operations across all of PotashCorp’’s business segments, including potash, nitrogen and phosphate.
“David brings vast experience in the agriculture industry to our Board of Directors,” said Amol Desphande, FBN network CEO and Co-Founder. “We are rapidly launching and growing numerous offerings for our farmer members, from crop marketing to FBN Direct™ to price transparency. David’s experience will undoubtedly help us increase our members’ farm profitability, and help them thrive in a difficult, uncertain farm economy.”
Before his role as COO, Delaney, who is based in Northern Ill., was the President of Sales for PotashCorp, where he led the global sales functions, increasing gross margins from $300 million to $4 billion, and helping increase the company’s market cap from $3 billion to $60 billion.
“The FBN network’s fierce commitment to help independent farmers and groundbreaking technology is what drew me to the company,” said Delaney. “I’m looking forward to furthering their positive impact for farmers across North America.”
Delaney has served as a member of numerous boards of directors, including that of Canopex Limited and Arab Potash Company. He also served as Chairman for industry associations such as the Fluid Fertilization Association, Phosphate Chemicals Export Association, and as Director for the International Plant Nutrition Institute. He currently serves on the Foundation Board for his alma Mater, Southern Illinois University.
The latest news comes as FBN network announced a $110 million Series D fundraise at the end of 2017, and launched its first international expansion in the first quarter of 2018. The company now serves more than 22 million acres of farmland across the U.S. and Canada, an area nearly the size of the state of Indiana.
Creating an Independent Farm Economy to Put Farmers First℠
The idea for the FBN network originated from farmers who wanted to create an independent, farmer-driven information and commerce network. In the past, important information such as fair market input prices, real-world seed performance, or optimal grain delivery points were hidden from farmers or difficult to determine. The FBN network makes all this information transparent in a no frills way – driven by member-contributed statistics from its millions of acres of member farms.
With the price transparency and online purchasing through FBN Direct, farms have commonly saved tens of thousands on inputs in a single year. Yearly FBN membership costs only $600 with no punishing acreage fees, making it easily affordable for farms of all sizes.
This latest round brings the company’s total equity funding to nearly $200 million. The company’s investors have been inspired by the potential to create a better farm and food economy for farmers and consumers through digital technology.
The FBN network is available throughout the United States and prairie provinces in Canada. For more information, visit farmersbusinessnetwork.com.
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