Clariant: board chairman drops out, dividend in sight

(CercleFinance.com) - Swiss specialty chemicals company Clariant said on Monday that its board chairman, Hariolf Kottmann, will no longer be a candidate for re-election at its upcoming AGM in April.


Citing "intensive" discussions, Clariant said the members of its board unanimously chose Günter von Au to be elected as its new chairman.

The former CEO of Munich-based Süd-Chemie has been a member of Clariant's board since 2012 and acted as vice chairman until 2018, the company said.

Clariant also announced today that it will propose to pay an ordinary dividend of 0.70 Swiss franc per share, including 0.55 franc for fiscal year 2019 and 0.15 Swiss franc for 2020.

The firm is therefore satisfying the requests of Saudi Arabia's chemicals group Sabic, its biggest shareholder, which in December requested a special dividend, along with a term limit for board members.

The Zurich-listed shares were down 0.5% after these announcements.

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