His resignation will become effective on December 31; he will be succeeded by chief financial officer Ricardo Ramos Rodriguez, who has worked at SQM for 29 years, on January 1.

Solminihac has spent more than 30 years at SQM in a variety of positions, including vice president of business development, vice chairman and CEO.

SQM has turned into a $4.3 billion company from one worth $152 million during Solminihac’s tenure, the company said.

SQM is the largest producer of lithium compounds in Chile as well as the world’s largest iodine producer.