Swiss specialty chemical company, Clariant, said that Ernesto Occhiello, CEO and Member of the Executive Committee, has resigned for personal reasons with immediate effect.
The Board of Directors has accepted the resignation and asked Chairman Hariolf Kottmann to assume CEO responsibilities in the interim period until a successor is found, the firm said.
Meanwhile, negotiations with SABIC on establishing a High Performance Materials Unit is ongoing, it said, adding that further details will be disclosed on July 25 along with the H1 results.
SABIC controls 24.99 percent stake at Clariant, and has signed a memorandum of understanding in September 2018 to create a High Performance Materials unit.
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