Clariant and SABIC enter Governance agreement defining the long-term strategic relationship - Seite 3

Hariolf Kottmann, as new Chairman of the Board, will continue to shape Clariant's successful strategic development, based on his 10-year-experience as the company's CEO and a 35-year track record in the industry.

Under the proposal to be submitted to the Extraordinary General Meeting, the Board of Directors shall be comprised of 12 members. Dr. Rudolf Wehrli, Chairman of the Clariant Board of Directors and Professor Dr. Peter Chen, Clariant Board of Directors member will resign their positions on 16 October 2018. As a significant, long-term oriented strategic anchor shareholder, SABIC will be entitled to nominate four representatives to Clariant's Board of Directors, which will be voted on at the Extraordinary General Meeting. The new CEO will not be part of the Board of Directors.

The four proposed members for the Board of Directors are: Abdullah Mohammed Alissa, Calum MacLean, Geoffery Merszei and Dr. Khaled Hamza Nahas.

The changes in governance will not affect other elements of the governance structure of Clariant. The registered seat of Clariant shall continue to be in Muttenz, Switzerland, its headquarters and corporate center in Pratteln, Switzerland. Clariant shares will remain listed on the SIX Swiss Exchange.

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