The president of Chilean mining company SQM , Luis Engenio Ponce Lerou , is to leave the firm after 37 years . His departure is a requirement of a deal struck between SQM and the Chilean government 's development agency to resolve a long - running dispute over mineral production royalties . The agreement prevents members of the Ponce Lerou family from occupying executive positions or sitting on the board of the company , restricting the control exerted by Julio Ponce Lerou , the company 's main shareholder . Engenio Ponce Lerou is his younger brother and has been president of the company since May 2016 .
The president of Chilean mining company SQM, Luis Engenio Ponce Lerou, is to leave the firm after 37 years. His departure is a requirement of a deal struck between SQM and the Chilean government's development agency to resolve a long-running dispute over lithium production royalties. The agreement bans members of the Ponce Lerou family from occupying executive positions or sitting on the board of the company, restricting the control exerted by Julio Ponce Lerou, the company's main shareholder. Engenio Ponce Lerou is his younger brother and has been president of the company since May 2016.