Published by Global Banking & Finance Review®
Posted on January 19, 2026
1 min readLast updated: January 19, 2026
Add as preferred source on GoogleClariant proposes BP Chair Albert Manifold for its board, aiming to enhance strategic direction and financial performance amid legal challenges.
LONDON, Jan 19 (Reuters) - The board of Swiss speciality chemicals maker Clariant has proposed adding BP Chair Albert Manifold to its ranks at its annual general meeting on April 1, Clariant said on Monday.
The board also proposed the re-election of Chair Ben van Beurden, former CEO of Shell.
Clariant, whose chemicals are used in smartphone and electric vehicle production, is reducing spending through job cuts, production facility closures and procurement reductions to bolster its margins as it waits for a meaningful rebound in demand.
The Swiss firm has rejected allegations by BP Europe and an ExxonMobil subsidiary, which are seeking damages for breaching competition law in the ethylene purchasing market.
(Reporting by Shadia Nasralla; Editing by Susan Fenton)
Corporate governance refers to the systems and processes that direct and control a company, ensuring accountability and transparency in its operations.
Financial strategies are plans and actions that a company takes to manage its financial resources effectively, aiming to achieve its business goals and maximize profitability.
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