Clariant and SABIC enter Governance agreement defining the long-term strategic relationship - Seite 2

SABIC CEO Yousef Al-Benyan: "Clariant is a strong company with an impressive track record which will continue on its successful path with Hariolf Kottmann as the new Chairman. Specialty chemicals are an important building block for SABIC's strategy. We see ourselves as a responsible long-term oriented strategic shareholder, and the Governance agreement underlines our commitment to create value for all stakeholders.

"The nomination of Hariolf Kottmann as Chairman of the Board provides continuity and stability to the company. His experience and vision will ensure further execution of the long-term strategy to become a top tier player in the industry. The combination of our Additives and high value Masterbatches business with parts of SABIC's Specialties business accelerates this process. Therefore I support Hariolf Kottmann to take over the role of Chairman of the Board", said Konstantin Winterstein, Member of the Board of Directors.

Hariolf Kottmann: "With the addition of SABIC as a shareholder, Clariant now has two strong independent anchor shareholders with significant experience in the chemical industry. This will allow Clariant to accelerate its strategic path of growth in the specialty chemicals industry. Together with Ernesto Occhiello, the Board looks forward to writing the next chapter in Clariant's success story."

The two senior leaders will ensure continuity and further sustainable growth of Clariant. With Ernesto Occhiello, Clariant will have an experienced business leader on board with an extensive background in specialty chemicals as well as in R&D and innovation. Prior to SABIC, Ernesto Occhiello worked at The Dow Chemical Company, EniChem and Montedison. Ernesto Occhiello brings a proven track record in business transformation, growing SABIC's multi-billion dollar specalities business unit into an organization offering unique technologies with profitability levels of more than double the competitive benchmark average. He also successfully redesigned the R&D organizations of top global chemical players, aligning them to business-driven efforts, while improving financial impact and innovation.