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Clariant To Reorganize In Three Global Business Units Instead Of Five Units

Clariant AG (CLZNY.PK), a Swiss specialty chemicals firm, said Wednesday that it will slim down the number of Business Units from five to three. It will also create a new Executive Steering Committee that will include the CEO, the CFO and the Presidents of the new Business Units, who will have full P&L responsibility.

The company noted that the new structure will enable the company to reduce hierarchical layers and overall complexity across its business functions.

The new businesses will be headed by newly appointed Business Unit Presidents Angela Cackovich, Jens Cuntze, and Christian Vang.

The company is elimination the Chief Transformation Officer (CTO) and Chief Operating Officer roles. The new structure enables direct reporting lines of Clariant's Business Units to the CEO.

As a consequence of the new structure, Hans Bohnen, Chief Operating Officer, and Bernd Hoegemann, Chief Transformation Officer, have decided to step down from their current roles in the Executive Committee and will pursue their career outside the company.

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