- Push-out Score determined
- After less than one year in the position
- Praise and thanks for Occhiello
- Hariolf Kottmann taking over in the interim
- Search for a successor
(exechange) — Muttenz, Switzerland, July 24, 2019 — Ernesto Occhiello, chief executive of Clariant, leaves. As announced by Clariant AG in a news release on Wednesday, July 24, 2019, Ernesto Occhiello has left his post as Chief Executive Officer at the specialty chemical company after less than one year in the role, effective July 23, 2019.
Clariant will undertake a search for a successor.
Ernesto Occhiello’s duties as CEO are taken over in the interim by Hariolf Kottmann, most recently Chairman of the Board of Directors of Clariant AG, as Executive Chairman.
“For personal reasons”
Ernesto Occhiello’s departure from the CEO post is explained as follows. Clariant said: “Ernesto Occhiello, Chief Executive Officer and Member of the Executive Committee, has decided to leave the company for personal reasons with immediate effect. The Board of Directors accepted his resignation yesterday.”
Precise information regarding Ernesto Occhiello’s future plans was not immediately available.
Share price decline
The announcement follows a decline in Clariant AG’s share price of 27 percent since January 2018.
Chaired by Hariolf Kottmann
Clariant AG is chaired by Hariolf Kottmann.
He was elected as Chairman of the Board of Directors of Clariant on October 16, 2018. From October 1, 2008 to October 16, 2018 he was CEO of Clariant.
In the position of CEO since 2018
Ernesto Occhiello became CEO of the company in October 2018.
Ernesto Occhiello has been Chief Executive Officer at Clariant AG since October 16, 2018.
He served as Executive Vice President of Specialties at Saudi Basic Industries Corporation since January 30, 2017.
Prior to SABIC, Ernesto Occhiello worked at The Dow Chemical Company, EniChem and Montedison.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Clariant and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 30.2019 ($).